tax exempt status for HOAs
From: Ken Lewis (kenlewisjryahoo.com)
Date: Tue, 28 Aug 2007 11:05:12 -0700 (PDT)
I'm with Nevada City Cohousing in California and last year we owed $5,000 in
tax to the state despite our non-profit status. The federal tax was fine,
just for interest income, as expected. So, I recently applied for tax exempt
status, hoping to avoid that large tax hit. We'll see how that goes.

 

Does anyone else have experience with this issue? How have other California
coho groups dealt with this? Were you successful?

 

Out of curiosity, I wonder how HOAs in other states are taxed.

 

Any insights greatly appreciated,

 

Ken

 


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