This unique book covers all aspects of operating and maintaining a tax exempt organization, within federal and state laws, from creation to dissolution. It begins by defining the various functions of organizers; the types of organizations, including unincorporated associations, charitable trusts, foundations, and nonprofit corporations; and the duties and liabilities imposed by the law on such organizations. The author shows how to determine if the goals and purposes of the organization fit into the statutory scheme for obtaining tax exempt status and helps the reader to decide which type of organization will best suit his or her needs. He points out the advantages and disadvantages, the legal effect, and the requirements of each. Finally, he explains how to terminate a tax exempt organization and the consequences of termination.

... provides lucid and remarkably concise explanations of the main laws and principles that every business manager or entrepreneur should know. It is, to a large extent, preventive laW' for avoiding trouble, as well as for dealing with it when it does occur. There is complete, though brief, coverage of all the important aspects of business law, a good index, and such fine choice of language that it is easy to read. And that last feature is worth the price of the book. "Association of Florida Trial Lawyers Journal"

This invaluable reference tool covers the potential legal liability of businesses, the costs of failing to comply with legal obligations, and the legal rights afforded businesses under the law. The authors combine a theoretical focus with an applied, practical approach to minimizing legal costs. The guide addresses such topics as raising capital, buying real estate, extending credit, collecting accounts, borrowing money, advertising, selling goods, negotiating contracts, maintaining a safe work place, managing employees, keeping business records, contracting with the federal government, the impact of the new federal tax law, and more. Throughout the volume, the reader is alerted to those highly technical and complex regulatory areas where legal counsel is clearly advisable. Consideration is also given to selecting and working effectively with a lawyer in such circumstances.