Will you operate as a for-profit business, or be incorporated as a non-profit and work under a governing board? Most farmers markets choose to be incorporated as nonprofits or are commonly projects under other established non-profits. This means that most fall under federal tax exemption status from the Internal Revenue Service (IRS) and have a 501(c) designation. The process to apply and become a 501(c) organization can be confusing and arduous, but these resources will help you understand the steps you need to take to have a successful application.