Attestation Update – A&A for CPAs

Technical stuff for CPAs providing attestation services

Verify state exempt status – You can look up the status of an organization with the California Franchise Tax Board

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(Cross-post from my other blog, Nonprofit update.)

This is cool. The Franchise Tax Board has an online feature call the Entity Status Letter which allows you to quickly find whether an NPO is exempt with the state of California.

You can go to the Self Serve Entity Status Letter – Entity Search page. If the link breaks, just search “entity status letter” at the FTB website.

This will also work for a for-profit business.

When you find the organization, you can print a PDF file that says the organization is in good standing with the FTB and that they are exempt under 23701d.

That’s a good thing to know if you can’t find your state determination letter.

Also a good thing for CPAs to know. Might be worth your time to make sure your NPO clients are exempt under state law.

That lookup won’t tell you what category the charity is in, such as religious, educational, charitable, or public benefit.

Over the weekend I did a lookup and ran a printout for all of my clients.

Very easy. Very fast. Good documentation to put in the files.

Hat tip: Thanks Kerry!

Written by Jim Ulvog

June 25, 2013, 7:07 am at 7:07 am

Posted in Audits, Other stuff

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