Thar's probably some difference twixt Canajin 'n' 'Merican corporate laws but up here we went non-profit.
1 - Non-profit allows the club to retain earnings from year to year without paying any tax (usually to a certain maximum).
2 - If yer a fer-profit outfit, yer gonna need an accountant ta figger out yer taxes, file the forms, and advise ya on how ta minimize yer tax bill. Up here, fer non-profit, our club's tax return is simpler than the personal tax return.
3 - If yer non-profit (up here at least) ya get a better deal from the banks (lower service fees on account transactions).
If ya go non-profit, make sure yer charter (constitution) specifies the roles of each exec member, the methods of doing business, and the method of disposing of assets in the event of a disoloution of the corporation.
Calamity (non-profit - it weren't intended that way!) Jane
