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Dr. Florentine and Dr. Chang decide to open a psychiatric practice together to help accommodate the need for services in the area where they live.

Dr. Florentine and Dr. Chang decide to open a psychiatric practice together to help accommodate the need for services in the area where they live. They set up the practice to be exempt from both property and income taxes under Internal Revenue Code Section 501(c)(3). What type of business organization was set up?

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SolutionDr Florentine and Dr Chang most likely set up a 501c3 nonprofit organization To qualify for ... blur-text-image

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