If you have your tax exempt status, then yes, code "1" for the exempt payee code is correct. You're going to have to do some research to figure out whether "corporation" is correct, but it doesn't really matter that much. If someone incorporated your organization in whatever state you're located in, you're a corporation. Someone should have a copy of the Articles of Incorporation filed with your state for you to be able to figure that out. Otherwise, you're an "unincorporated association," which you would then list on the "other" line.
Either way, this form isn't really something to lose sleep over. As long as you get the "1" in there, that's what people are going to look for, as well as looking up your EIN to make sure you are tax exempt.
Hi Beth,
I am going to bump your question over to the Ultimate Donation List, where lots of folks have exchange information on seeking donations from companies.
We are a 501c3. When requesting some donations some companies require a W9. I do not know how to answer the question properly regarding federal tax classification. Our PTO is called School name parent teacher organization, Inc. I asked our tax person at my work and he said to mark "Corporation" and then under exempt payee code to put a 1. Does anyone know if this is correct?
