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States With No Retirement Income Tax

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States With No Retirement Income Tax

States with no retirement income tax Publication 505 - Introductory Material Table of Contents IntroductionNonresident aliens. States with no retirement income tax Ordering forms and publications. States with no retirement income tax Tax questions. States with no retirement income tax What's New for 2014 Reminders Introduction The federal income tax is a pay-as-you-go tax. States with no retirement income tax You must pay the tax as you earn or receive income during the year. States with no retirement income tax There are two ways to pay as you go. States with no retirement income tax Withholding. States with no retirement income tax If you are an employee, your employer probably withholds income tax from your pay. States with no retirement income tax In addition, tax may be withheld from certain other income, such as pensions, bonuses, commissions, and gambling winnings. States with no retirement income tax The amount withheld is paid to the Internal Revenue Service (IRS) in your name. States with no retirement income tax Estimated tax. States with no retirement income tax If you do not pay your tax through withholding, or do not pay enough tax that way, you might have to pay estimated tax. States with no retirement income tax People who are in business for themselves generally will have to pay their tax this way. States with no retirement income tax You may have to pay estimated tax if you receive income such as dividends, interest, capital gains, rents, and royalties. States with no retirement income tax Estimated tax is used to pay not only income tax, but other taxes such as self-employment tax and alternative minimum tax. States with no retirement income tax This publication explains both of these methods. States with no retirement income tax It also explains how to take credit on your return for the tax that was withheld and for your estimated tax payments. States with no retirement income tax If you did not pay enough tax during the year, either through withholding or by making estimated tax payments, you may have to pay a penalty. States with no retirement income tax Generally, the IRS can figure this penalty for you. States with no retirement income tax This underpayment penalty, and the exceptions to it, are discussed in chapter 4. States with no retirement income tax Nonresident aliens. States with no retirement income tax    Before completing Form W-4, nonresident alien employees should see the Instructions for Form 8233, Exemption From Withholding on Compensation for Independent (and Certain Dependent) Personal Services of a Nonresident Alien Individual. States with no retirement income tax Also see chapter 8 of Publication 519, U. States with no retirement income tax S. States with no retirement income tax Tax Guide for Aliens, for important information on withholding. States with no retirement income tax What's new for 2013 and 2014. States with no retirement income tax   See What's New for 2014 in this Introduction, and What's New for 2013 in chapter 4. States with no retirement income tax Comments and suggestions. States with no retirement income tax   We welcome your comments about this publication and your suggestions for future editions. States with no retirement income tax   You can write to us at the following address: Internal Revenue Service Tax Forms and Publications Division 1111 Constitution Ave. States with no retirement income tax NW, IR-6526 Washington, DC 20224   We respond to many letters by telephone. States with no retirement income tax Therefore, it would be helpful if you would include your daytime phone number, including the area code, in your correspondence. States with no retirement income tax   You can send your comments from www. States with no retirement income tax irs. States with no retirement income tax gov/formspubs/. States with no retirement income tax Click on “More Information” and then on Give us feedback on forms and publications. States with no retirement income tax   Although we cannot respond individually to each comment received, we do appreciate your feedback and will consider your comments as we revise our tax products. States with no retirement income tax Ordering forms and publications. States with no retirement income tax   Visit www. States with no retirement income tax irs. States with no retirement income tax gov/formspubs/ to download forms and publications, call 1-800-TAX-FORM (1-800-829-3676), or write to the address below and receive a response within 10 business days after your request is received. States with no retirement income tax Internal Revenue Service 1201 N. States with no retirement income tax Mitsubishi Motorway Bloomington, IL 61705-6613 Tax questions. States with no retirement income tax   If you have a tax question, check the information available on IRS. States with no retirement income tax gov or call 1-800-829-1040. States with no retirement income tax We cannot answer tax questions sent to either of the above addresses. States with no retirement income tax What's New for 2014 Use your 2013 tax return as a guide in figuring your 2014 estimated tax, but be sure to consider the following. States with no retirement income tax Standard mileage rates. States with no retirement income tax  The 2014 rate for business use of your vehicle is 56 cents per mile. States with no retirement income tax The rate for use of your vehicle to get medical care or move is 23½ cents per mile. States with no retirement income tax The rate of 14 cents per mile for charitable use is unchanged. States with no retirement income tax Personal exemption increased for certain taxpayers. States with no retirement income tax  For 2014, the personal exemption amount is increased to $3,950 for taxpayers with adjusted gross income at or below $305,050 if married filing jointly or qualifying widow(er), $279,650 if head of household, $254,200 if single, or $152,525 if married filing separately. States with no retirement income tax The personal exemption amount for taxpayers with adjusted gross income above these thresholds may be reduced. States with no retirement income tax Limitation on itemized deductions. States with no retirement income tax  For 2014, itemized deductions for taxpayers with adjusted gross income above $305,050 if married filing jointly or qualifying widow(er), $279,650 if head of household, $254,200 if single, and $152,525 if married filing separately may be reduced. States with no retirement income tax Health care coverage. States with no retirement income tax  When you file your 2014 tax return in 2015, you will need to either (1) indicate on your return that you and your family had health care coverage throughout 2014, (2) claim an exemption from the health care coverage requirement for some or all of 2014, or (3) make a payment if you do not have coverage or an exemption(s) for all 12 months of 2014. States with no retirement income tax For examples on how this payment works, go to www. States with no retirement income tax IRS. States with no retirement income tax gov/aca and click under the “Individuals & Families” section. States with no retirement income tax You may want to consider this when figuring your “Other taxes” on Line 12 of the 2014 Estimated Tax Worksheet (Worksheet 2-1). States with no retirement income tax For general information on these requirements, go to www. States with no retirement income tax IRS. States with no retirement income tax gov/aca. States with no retirement income tax Advance payments of the Premium Tax Credit. States with no retirement income tax  If you buy health care insurance through the Health Insurance Marketplace, you may be eligible for advance payments of the Premium Tax Credit to help pay for your insurance coverage. States with no retirement income tax Receiving too little or too much in advance will affect your refund or balance due. States with no retirement income tax Promptly report changes in your income or family size to your Marketplace. States with no retirement income tax You may want to consider this when figuring your estimated taxes for 2014. States with no retirement income tax For more information, go to www. States with no retirement income tax IRS. States with no retirement income tax gov/aca and see Publication 5120 and Publication 5121. States with no retirement income tax http://www. States with no retirement income tax IRS. States with no retirement income tax gov/pub5120 Alternative minimum tax (AMT) exemption amount increased. States with no retirement income tax  The AMT exemption amount is increased to $52,800 ($82,100 if married filing jointly or qualifying widow(er); $41,050 if married filing separately). States with no retirement income tax Lifetime learning credit income limits. States with no retirement income tax  In order to claim a lifetime learning credit, your MAGI must be less than $54,000 ($108,000 if married filing jointly). States with no retirement income tax Retirement savings contribution credit income limits increased. States with no retirement income tax  In order to claim this credit for 2014, your MAGI must be less than $30,000 ($60,000 if married filing jointly; $45,000 if head of household). States with no retirement income tax Adoption credit or exclusion. States with no retirement income tax  The maximum adoption credit or exclusion for employer-provided adoption benefits has increased to $13,190. States with no retirement income tax In order to claim either the credit or exclusion, your MAGI must be less than $237,880. States with no retirement income tax Earned income credit (EIC). States with no retirement income tax  You may be able to take the EIC in 2014 if: Three or more children lived with you and you earned less than $46,997 ($52,427 if married filing jointly), Two children lived with you and you earned less than $43,756 ($49,186 if married filing jointly), One child lived with you and you earned less than $38,511 ($43,941 if married filing jointly), or A child did not live with you and you earned less than $14,590 ($20,020 if married filing jointly). States with no retirement income tax Also, the maximum MAGI you can have and still get the credit has increased. States with no retirement income tax You may be able to take the credit if your MAGI is less than the amount in the above list that applies to you. States with no retirement income tax The maximum investment income you can have and get the credit has increased to $3,350. States with no retirement income tax Reminders Future developments. States with no retirement income tax  The IRS has created a page on IRS. States with no retirement income tax gov for information about Publication 505 at www. States with no retirement income tax irs. States with no retirement income tax gov/pub505. States with no retirement income tax Information about any future developments affecting Publication 505 (such as legislation enacted after we release it) will be posted on that page. States with no retirement income tax Social security tax. States with no retirement income tax   Generally, each employer for whom you work during the tax year must withhold social security tax up to the annual limit. States with no retirement income tax The annual limit is $117,000 in 2014. States with no retirement income tax Photographs of missing children. States with no retirement income tax  The Internal Revenue Service is a proud partner with the National Center for Missing and Exploited Children. States with no retirement income tax Photographs of missing children selected by the Center may appear in this publication on pages that otherwise would be blank. States with no retirement income tax You can help bring these children home by looking at the photographs and calling 1-800-THE-LOST (1-800-843-5678) if you recognize a child. States with no retirement income tax Additional Medicare Tax. States with no retirement income tax  Beginning in 2013, a 0. States with no retirement income tax 9% Additional Medicare Tax applies to Medicare wages, Railroad Retirement Tax Act compensation, and self-employment income over a threshold amount based on your filing status. States with no retirement income tax You may need to include this amount when figuring your estimated tax. States with no retirement income tax See the instructions for line 12 of the 2014 Estimated Tax Worksheet. States with no retirement income tax You may also request that your employer deduct and withhold an additional amount of income tax withholding from your wages on Form W-4, Employee's Withholding Allowance Certificate. States with no retirement income tax For more information on Additional Medicare Tax, go to IRS. States with no retirement income tax gov and enter “Additional Medicare Tax” in the search box. States with no retirement income tax Net Investment Income Tax. States with no retirement income tax  Beginning in 2013, you may be subject to Net Investment Income Tax (NIIT). States with no retirement income tax NIIT is a 3. States with no retirement income tax 8% tax on the lesser of net investment income or the excess of your modified adjusted gross income (MAGI) over the threshold amount. States with no retirement income tax NIIT may need to be included when figuring estimated tax. States with no retirement income tax See the instructions for line 12 of the 2014 Estimated Tax Worksheet. States with no retirement income tax You may also request that your employer deduct and withhold an additional amount of income tax withholding from your wages on Form W-4. States with no retirement income tax For more information on NIIT, go to IRS. States with no retirement income tax gov and enter “Net Investment Income Tax” in the search box. States with no retirement income tax Prev  Up  Next   Home   More Online Publications
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The States With No Retirement Income Tax

States with no retirement income tax Publication 557 - Additional Material Table of Contents Appendix. States with no retirement income tax Sample Articles of Organization, continued Organization Reference Chart Section of 1986 Code Description of organization General nature of activities Application  Form Annual return required to be  filed Contributions  allowable 501(c)(1) Corporations Organized under Act of Congress (including Federal Credit Unions) Instrumentalities of the  United States No Form None Yes, if made for exclusively public purposes 501(c)(2) Title Holding Corporation For Exempt Organization Holding title to property of an  exempt organization 1024 9901 or 990-EZ8 No2 501(c)(3) Religious, Educational, Charitable, Scientific, Literary, Testing for Public Safety, to Foster National or International Amateur Sports Competition, or Prevention of Cruelty to Children or Animals Organizations Activities of nature implied by description of class of organization 1023 9901 or 990-EZ8, or 990-PF Yes, generally 501(c)(4) Civic Leagues, Social Welfare Organizations, and Local Associations of Employees Promotion of community welfare; charitable, educational, or recreational 1024 9901 or 990-EZ8 No, generally 2, 3 501(c)(5) Labor, Agricultural, and Horticultural Organizations Educational or instructive, the  purpose being to improve conditions of work, and to improve products of efficiency 1024 9901 or 990-EZ8 No2 501(c)(6) Business Leagues, Chambers of Commerce, Real Estate Boards, etc. States with no retirement income tax Improvement of business  conditions of one or more lines of business 1024 9901 or 990-EZ8 No2 501(c)(7) Social and Recreational Clubs Pleasure, recreation, social activities 1024 9901 or 990-EZ8 No2 501(c)(8) Fraternal Beneficiary Societies  and Associations Lodge providing for payment of life, sickness, accident or other benefits  to members 1024 9901 or 990-EZ8 Yes, if for certain Sec. States with no retirement income tax 501(c)(3) purposes 501(c)(9) Voluntary Employees Beneficiary Associations Providing for payment of life, sickness, accident, or other benefits to members 1024 9901 or 990-EZ8 No2 501(c)(10) Domestic Fraternal Societies  and Associations Lodge devoting its net earnings to charitable, fraternal, and other  specified purposes. States with no retirement income tax No life, sickness, or accident benefits to members 1024 9901 or 990-EZ8 Yes, if for certain Sec. States with no retirement income tax 501(c)(3) purposes 501(c)(11) Teachers' Retirement Fund Associations Teachers' association for payment of retirement benefits Letter6 9901 or 990-EZ8 No2 501(c)(12) Benevolent Life Insurance Associations, Mutual Ditch or  Irrigation Companies, Mutual or Cooperative Telephone Companies, etc. States with no retirement income tax Activities of a mutually beneficial  nature similar to those implied by the description of class of organization 1024 9901 or 990-EZ8 No2 501(c)(13) Cemetery Companies Burials and incidental activities 1024 9901 or 990-EZ8 Yes, generally 501(c)(14) State-Chartered Credit Unions,  Mutual Reserve Funds Loans to members Letter6 9901 or 990-EZ8 No2 501(c)(15) Mutual Insurance Companies or Associations Providing insurance to members substantially at cost 1024 9901 or 990-EZ8 No2 501(c)(16) Cooperative Organizations to  Finance Crop Operations Financing crop operations in  conjunction with activities of a marketing  or purchasing association Form 1120-C6 9901 or 990-EZ8 No2 501(c)(17) Supplemental Unemployment  Benefit Trusts Provides for payment of  supplemental unemployment compensation benefits 1024 9901 or 990-EZ8 No2 501(c)(18) Employee Funded Pension Trust (created before June 25, 1959) Payment of benefits under a  pension plan funded by employees Letter6 9901 or 990-EZ8 No2 501(c)(19) Post or Organization of Past or  Present Members of the Armed Forces Activities implied by nature of organization 1024 9901 or 990-EZ8 No, generally7 501(c)(21) Black Lung Benefit Trusts Funded by coal mine operators to satisfy their liability for disability or  death due to black lung diseases Letter6 990-BL No4 501(c)(22) Withdrawal Liability Payment Fund To provide funds to meet the  liability of employers withdrawing from  a multi-employer pension fund Letter6 9901 or 990-EZ8 No5 501(c)(23) Veterans' Organization (created before 1880) To provide insurance and other  benefits to veterans Letter6 9901 or 990-EZ8 No, generally7 501(c)(25) Title Holding Corporations or Trusts with Multiple Parent Corporations Holding title and paying over  income from property to 35 or fewer parents or beneficiaries 1024 9901 or 990-EZ8 No 501(c)(26) State-Sponsored Organization Providing Health Coverage for High-Risk Individuals Provides health care coverage to high-risk individuals Letter6 9901 or 990-EZ8 No 501(c)(27) State-Sponsored Workers' Compensation Reinsurance Organization Reimburses members for losses  under workers' compensation acts Letter6 9901 or 990-EZ8 No 501(c)(28) National Railroad Retirement Investment Trust Manages and invests the assets of the Railroad Retirement Account No Form 99011 No11 501(c)(29) CO-OP health insurance issuers A qualified health insurance issuer which has received a loan or grant under the CO-OP program Letter and Form 871814 9901 No13 501(d) Religious and Apostolic Associations Regular business activities;  Communal religious community No Form 10659 No2 501(e) Cooperative Hospital Service Organizations Performs cooperative services for hospitals 1023 9901 or 990-EZ8 Yes 501(f) Cooperative Service Organizations  of Operating Educational Organizations Performs collective investment  services for educational organizations 1023 9901 or 990-EZ8 Yes 501(k) Child Care Organizations Provides care for children 1023 9901 or 990-EZ8 Yes 501(n) Charitable Risk Pools Pools certain insurance risks of sec. States with no retirement income tax 501(c)(3) organizations 1023 9901 or 990-EZ8 Yes 501(q) Credit Counseling Organization Credit counseling services 1023 102312 No 521(a) Farmers' Cooperative Associations Cooperative marketing and  purchasing for agricultural procedures 1028 1120-C No 527 Political organizations A party, committee, fund,  association, etc. States with no retirement income tax , that directly or indirectly accepts contributions or makes expenditures for political campaigns 8871 1120-POL10 9901 or 990-EZ8 No 1For exceptions to the filing requirement, see chapter 2 and the form instructions. States with no retirement income tax Note: For annual tax periods beginning after 2006, most tax-exempt organizations, other than churches, are required to file an annual Form 990, 990-EZ, or 990-PF with the IRS or to submit an annual electronic notice, Form 990-N (e-Postcard), to the IRS. States with no retirement income tax Tax-exempt organizations failing to file an annual return or submit an annual notice as required for 3 consecutive years will automatically lose their tax-exempt status. States with no retirement income tax    2An organization exempt under a subsection of section 501 other than 501(c)(3) can establish a charitable fund, contributions to which are deductible. States with no retirement income tax Such a fund must itself meet the requirements of section 501(c)(3) and the related notice requirements of section 508(a). States with no retirement income tax    3Contributions to volunteer fire companies and similar organizations are deductible, but only if made for exclusively public purposes. States with no retirement income tax    4Deductible as a business expense to the extent allowed by section 192. States with no retirement income tax    5Deductible as a business expense to the extent allowed by section 194A. States with no retirement income tax 6Application is by letter to the address shown on Form 8718. States with no retirement income tax A copy of the organizing document should be attached and the letter should be signed by an officer. States with no retirement income tax    7Contributions to these organizations are deductible only if 90% or more of the organization's members are war veterans. States with no retirement income tax    8For limits on the use of Form 990-EZ, see chapter 2 and the general instructions for Form 990-EZ (or Form 990). States with no retirement income tax    9Although the organization files a partnership return, all distributions are deemed dividends. States with no retirement income tax The members are not entitled to pass through treatment of the organization's income or expenses. States with no retirement income tax    10Form 1120-POL is required only if the organization has taxable income as defined in section 527(c). States with no retirement income tax    11Only required to annually file so much of the Form 990 that relates to the names and addresses of the officers, directors, trustees, and key employees, and their titles, compensation, and hours devoted to their positions (Part VII of Form 990), and to complete Item I in the Heading of Form 990 to confirm its tax-exempt status under section 501(c)(28). States with no retirement income tax    12See section 501(q) if the organization provides credit counseling services and seeks recognition of exemption under section 501(c)(4). States with no retirement income tax Use Form 1024 if applying for recognition under section 501(c)(4). States with no retirement income tax    13See section 501(c)(29) for details. States with no retirement income tax    14See Revenue Procedure 2012-11, sec. States with no retirement income tax 4. States with no retirement income tax 01, 2012-7 I. States with no retirement income tax R. States with no retirement income tax B. States with no retirement income tax 368, for details. States with no retirement income tax Appendix. States with no retirement income tax Sample Articles of Organization The following are examples of Articles of Incorporation (Draft A) and a declaration of trust (Draft B) that contain the required information as to purposes and powers of an organization and disposition of its assets upon dissolution. States with no retirement income tax You should bear in mind that requirements for these instruments may vary under applicable state law. States with no retirement income tax See Private Foundations and Public Charities , earlier for the special provisions required in a private foundation's governing instrument in order for it to qualify for exemption. States with no retirement income tax DRAFT A  Articles of Incorporation of the undersigned, a majority of whom are citizens of the United States, desiring to form a Non-Profit Corporation under the Non-Profit Corporation Law of , do hereby certify: First: The name of the Corporation shall be . States with no retirement income tax Second: The place in this state where the principal office of the Corporation is to be located is the City of , County. States with no retirement income tax Third: Said corporation is organized exclusively for charitable, religious, educational, and scientific purposes, including, for such purposes, the making of distributions to organizations that qualify as exempt organizations under section 501(c)(3) of the Internal Revenue Code, or the corresponding section of any future federal tax code. States with no retirement income tax Fourth: The names and addresses of the persons who are the initial trustees of the corporation are as follows: Name , Address Fifth: No part of the net earnings of the corporation shall inure to the benefit of, or be distributable to its members, trustees, officers, or other private persons, except that the corporation shall be authorized and empowered to pay reasonable compensation for services rendered and to make payments and distributions in furtherance of the purposes set forth in Article Third hereof. States with no retirement income tax No substantial part of the activities of the corporation shall be the carrying on of propaganda, or otherwise attempting to influence legislation, and the corporation shall not participate in, or intervene in (including the publishing or distribution of statements) any political campaign on behalf of or in opposition to any candidate for public office. States with no retirement income tax Notwithstanding any other provision of these articles, the corporation shall not carry on any other activities not permitted to be carried on (a) by a corporation exempt from federal income tax under section 501(c)(3) of the Internal Revenue Code, or the corresponding section of any future federal tax code, or (b) by a corporation, contributions to which are deductible under section 170(c)(2) of the Internal Revenue Code, or the corresponding section of any future federal tax code. States with no retirement income tax   If reference to federal law in articles of incorporation imposes a limitation that is invalid in your state, you may wish to substitute the following for the last sentence of the preceding paragraph: “Notwithstanding any other provision of these articles, this corporation shall not, except to an insubstantial degree, engage in any activities or exercise any powers that are not in furtherance of the purposes of this corporation. States with no retirement income tax ” Sixth: Upon the dissolution of the corporation, assets shall be distributed for one or more exempt purposes within the meaning of section 501(c)(3) of the Internal Revenue Code, or the corresponding section of any future federal tax code, or shall be distributed to the federal government, or to a state or local government, for a public purpose. States with no retirement income tax Any such assets not so disposed of shall be disposed of by a Court of Competent Jurisdiction of the county in which the principal office of the corporation is then located, exclusively for such purposes or to such organization or organizations, as said Court shall determine, which are organized and operated exclusively for such purposes. States with no retirement income tax   In witness whereof, we have hereunto subscribed our names this day of , 20. States with no retirement income tax Appendix. States with no retirement income tax Sample Articles of Organization, continued Draft B The Charitable Trust. States with no retirement income tax Declaration of Trust made as of the day of , 20 , by , of , and , of , who hereby declare and agree that they have received this day from , as Donor, the sum of Ten Dollars ($10) and that they will hold and manage the same, and any additions to it, in trust, as follows: First: This trust shall be called “The Charitable Trust. States with no retirement income tax ” Second: The trustees may receive and accept property, whether real, personal, or mixed, by way of gift, bequest, or devise, from any person, firm, trust, or corporation, to be held, administered, and disposed of in accordance with and pursuant to the provisions of this Declaration of Trust; but no gift, bequest, or devise of any such property shall be received and accepted if it is conditioned or limited in such manner as to require the disposition of the income or its principal to any person or organization other than a “charitable organization” or for other than “charitable purposes” within the meaning of such terms as defined in Article Third of this Declaration of Trust, or as shall, in the opinion of the trustees, jeopardize the federal income tax exemption of this trust pursuant to section 501(c)(3) of the Internal Revenue Code, or the corresponding section of any future federal tax code. States with no retirement income tax Third: a) The principal and income of all property received and accepted by the trustees to be administered under this Declaration of Trust shall be held in trust by them, and the trustees may make payments or distributions from income or principal, or both, to or for the use of such charitable organizations, within the meaning of that term as defined in paragraph C, in such amounts and for such charitable purposes of the trust as the trustees shall from time to time select and determine; and the trustees may make payments or distributions from income or principal, or both, directly for such charitable purposes, within the meaning of that term as defined in paragraph D, in such amounts as the trustees shall from time to time select and determine without making use of any other charitable organization. States with no retirement income tax The trustees may also make payments or distributions of all or any part of the income or principal to states, territories, or possessions of the United States, any political subdivision of any of the foregoing, or to the United States or the District of Columbia but only for charitable purposes within the meaning of that term as defined in paragraph D. States with no retirement income tax Income or principal derived from contributions by corporations shall be distributed by the trustees for use solely within the United States or its possessions. States with no retirement income tax No part of the net earnings of this trust shall inure or be payable to or for the benefit of any private shareholder or individual, and no substantial part of the activities of this trust shall be the carrying on of propaganda, or otherwise attempting to influence legislation. States with no retirement income tax No part of the activities of this trust shall be the participation in, or intervention in (including the publishing or distributing of statements), any political campaign on behalf of or in opposition to any candidate for public office. States with no retirement income tax b) The trust shall continue forever unless the trustees terminate it and distribute all of the principal and income, which action may be taken by the trustees in their discretion at any time. States with no retirement income tax On such termination, assets shall be distributed for one or more exempt purposes within the meaning of section 501(c)(3) of the Internal Revenue Code, or the corresponding section of any future federal tax code, or shall be distributed to the federal government, or to a state or local government, for a public purpose. States with no retirement income tax The donor authorizes and empowers the trustees to form and organize a nonprofit corporation limited to the uses and purposes provided for in this Declaration of Trust, such corporation to be organized under the laws of any state or under the laws of the United States as may be determined by the trustees; such corporation when organized to have power to administer and control the affairs and property and to carry out the uses, objects, and purposes of this trust. States with no retirement income tax Upon the creation and organization of such corporation, the trustees are authorized and empowered to convey, transfer, and deliver to such corporation all the property and assets to which this trust may be or become entitled. States with no retirement income tax The charter, bylaws, and other provisions for the organization and management of such corporation and its affairs and property shall be such as the trustees shall determine, consistent with the provisions of this paragraph. States with no retirement income tax c) In this Declaration of Trust and in any amendments to it, references to “charitable organizations” or “charitable organization” mean corporations, trusts, funds, foundations, or community chests created or organized in the United States or in any of its possessions, whether under the laws of the United States, any state or territory, the District of Columbia, or any possession of the United States, organized and operated exclusively for charitable purposes, no part of the net earnings of which inures or is payable to or for the benefit of any private shareholder or individual, and no substantial part of the activities of which is carrying on propaganda, or otherwise attempting to influence legislation, and which do not participate in or intervene in (including the publishing or distributing of statements) any political campaign on behalf of or in opposition to any candidate for public office. States with no retirement income tax It is intended that the organization described in this paragraph C shall be entitled to exemption from federal income tax under section 501(c)(3) of the Internal Revenue Code, or the corresponding section of any future federal tax code. States with no retirement income tax d) In this Declaration of Trust and in any amendments to it, the term “charitable purposes” shall be limited to and shall include only religious, charitable, scientific, literary, or educational purposes within the meaning of those terms as used in section 501(c)(3) of the Internal Revenue Code, or the corresponding section of any future federal tax code, but only such purposes as also constitute public charitable purposes under the law of trusts of the State of. States with no retirement income tax Fourth: This Declaration of Trust may be amended at any time or times by written instrument or instruments signed and sealed by the trustees, and acknowledged by any of the trustees, provided that no amendment shall authorize the trustees to conduct the affairs of this trust in any manner or for any purpose contrary to the provisions of section 501(c)(3) of the Internal Revenue Code, or the corresponding section of any future federal tax code. States with no retirement income tax An amendment of the provisions of this Article Fourth (or any amendment to it) shall be valid only if and to the extent that such amendment further restricts the trustees' amending power. States with no retirement income tax All instruments amending this Declaration of Trust shall be noted upon or kept attached to the executed original of this Declaration of Trust held by the trustees. States with no retirement income tax Fifth: Any trustee under this Declaration of Trust may, by written instrument, signed and acknowledged, resign his office. States with no retirement income tax The number of trustees shall be at all times not less than two, and whenever for any reason the number is reduced to one, there shall be, and at any other time there may be, appointed one or more additional trustees. States with no retirement income tax Appointments shall be made by the trustee or trustees for the time in office by written instruments signed and acknowledged. States with no retirement income tax Any succeeding or additional trustee shall, upon his or her acceptance of the office by written instrument signed and acknowledged, have the same powers, rights, and duties, and the same title to the trust estate jointly with the surviving or remaining trustee or trustees as if originally appointed. States with no retirement income tax  None of the trustees shall be required to furnish any bond or surety. States with no retirement income tax None of them shall be responsible or liable for the acts or omissions of any other of the trustees or of any predecessor or of a custodian, agent, depositary, or counsel selected with reasonable care. States with no retirement income tax  The one or more trustees, whether original or successor, for the time being in office, shall have full authority to act even though one or more vacancies may exist. States with no retirement income tax A trustee may, by appropriate written instrument, delegate all or any part of his or her powers to another or others of the trustees for such periods and subject to such conditions as such delegating trustee may determine. States with no retirement income tax  The trustees serving under this Declaration of Trust are authorized to pay to themselves amounts for reasonable expenses incurred and reasonable compensation for services rendered in the administration of this trust, but in no event shall any trustee who has made a contribution to this trust ever receive any compensation thereafter. States with no retirement income tax Sixth: In extension and not in limitation of the common law and statutory powers of trustees and other powers granted in this Declaration of Trust, the trustees shall have the following discretionary powers. States with no retirement income tax a) To invest and reinvest the principal and income of the trust in such property, real, personal, or mixed, and in such manner as they shall deem proper, and from time to time to change investments as they shall deem advisable; to invest in or retain any stocks, shares, bonds, notes, obligations, or personal or real property (including without limitation any interests in or obligations of any corporation, association, business trust, investment trust, common trust fund, or investment company) although some or all of the property so acquired or retained is of a kind or size which but for this express authority would not be considered proper and although all of the trust funds are invested in the securities of one company. States with no retirement income tax No principal or income, however, shall be loaned, directly or indirectly, to any trustee or to anyone else, corporate or otherwise, who has at any time made a contribution to this trust, nor to anyone except on the basis of an adequate interest charge and with adequate security. States with no retirement income tax b) To sell, lease, or exchange any personal, mixed, or real property, at public auction or by private contract, for such consideration and on such terms as to credit or otherwise, and to make such contracts and enter into such undertakings relating to the trust property, as they consider advisable, whether or not such leases or contracts may extend beyond the duration of the trust. States with no retirement income tax c) To borrow money for such periods, at such rates of interest, and upon such terms as the trustees consider advisable, and as security for such loans to mortgage or pledge any real or personal property with or without power of sale; to acquire or hold any real or personal property, subject to any mortgage or pledge on or of property acquired or held by this trust. States with no retirement income tax d) To execute and deliver deeds, assignments, transfers, mortgages, pledges, leases, covenants, contracts, promissory notes, releases, and other instruments, sealed or unsealed, incident to any transaction in which they engage. States with no retirement income tax e) To vote, to give proxies, to participate in the reorganization, merger, or consolidation of any concern, or in the sale, lease, disposition, or distribution of its assets; to join with other security holders in acting through a committee, depositary, voting trustees, or otherwise, and in this connection to delegate authority to such committee, depositary, or trustees and to deposit securities with them or transfer securities to them; to pay assessments levied on securities or to exercise subscription rights in respect of securities. States with no retirement income tax f) To employ a bank or trust company as custodian of any funds or securities and to delegate to it such powers as they deem appropriate; to hold trust property without indication of fiduciary capacity but only in the name of a registered nominee, provided the trust property is at all times identified as such on the books of the trust; to keep any or all of the trust property or funds in any place or places in the United States of America; to employ clerks, accountants, investment counsel, investment agents, and any special services, and to pay the reasonable compensation and expenses of all such services in addition to the compensation of the trustees. States with no retirement income tax Seventh: The trustees' powers are exercisable solely in the fiduciary capacity consistent with and in furtherance of the charitable purposes of this trust as specified in Article Third and not otherwise. States with no retirement income tax Eighth: In this Declaration of Trust and in any amendment to it, references to “trustees” mean the one or more trustees, whether original or successor, for the time being in office. States with no retirement income tax Ninth: Any person may rely on a copy, certified by a notary public, of the executed original of this Declaration of Trust held by the trustees, and of any of the notations on it and writings attached to it, as fully as he might rely on the original documents themselves. States with no retirement income tax Any such person may rely fully on any statements of fact certified by anyone who appears from such original documents or from such certified copy to be a trustee under this Declaration of Trust. States with no retirement income tax No one dealing with the trustees need inquire concerning the validity of anything the trustees purport to do. States with no retirement income tax No one dealing with the trustees need see to the application of anything paid or transferred to or upon the order of the trustees of the trust. States with no retirement income tax Tenth: This Declaration of Trust is to be governed in all respects by the laws of the State of . States with no retirement income tax Trustee Trustee Prev  Up  Next   Home   More Online Publications