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

Question

Quizplus · Accepted Answer

Not-for-profit corporations are structured to benefit society, rather than generate profits for shareholders or owners. As such, they do not issue stock certificates and are exempt from paying income taxes, as long as they meet certain requirements and operate within the guidelines of their tax-exempt status.

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