After a Successful Five Years, Peaceful Pastures, LLC (A Retirement

True/False

After a successful five years, Peaceful Pastures, LLC (a retirement ranch for race horses), thinks it may be able to attract donations from animal activist groups and even the federal government if it becomes a nonprofit corporation. As its business advisor, you explain that as a nonprofit corporation, the owner(s) may earn a salary but the business should not seek after-tax profits.