Not-for-profit corporations do not issue stock certificates and are exempt from paying income taxes.

Question

Quizplus · Accepted Answer

Not-for-profit corporations do not issue stock certificates as they do not have owners or shareholders in the traditional sense. They are also generally exempt from paying income taxes, provided they meet certain criteria set by the government, such as operating exclusively for charitable, religious, educational, or other exempt purposes.

Not-For-Profit Corporations Do Not Issue Stock Certificates and Are Exempt