Asked by
Tyliek Johnson
on Nov 03, 2024Verified
Given that not-for-profit organizations still focus on and make profits,they are commonly required to pay federal,state,and local taxes.
Federal Taxes
Levies imposed by the government on income, corporate profits, and added to the cost of some goods, services, and transactions.
Not-for-Profit Organizations
Organizations that operate for purposes other than making a profit, focusing on serving the community or advancing social causes.
- Distinguish between the operational priorities of for-profit and not-for-profit entities.
Verified Answer
RA
Learning Objectives
- Distinguish between the operational priorities of for-profit and not-for-profit entities.