I am the treasurer of our local sportbike club (www.sincitysportbikes.com). We are sponsoring more and more events and getting nervous that we (the officers) could be help personally liable if someone got hurt and sued. Does anyone know how this works? If we form a limited liability corporation, does that protect us?
Also, does anyone know if we have to pay taxes on our club funds? We heard it is a pain in the ass to do a non-profit deal?
Any help would be GREATLY appreciated!
Doc
Also, does anyone know if we have to pay taxes on our club funds? We heard it is a pain in the ass to do a non-profit deal?
Any help would be GREATLY appreciated!
Doc