|Re: tax exempt status for HOAs||<– Date –> <– Thread –>|
|From: David L. Mandel (dlmandelpacbell.net)|
|Date: Thu, 30 Aug 2007 00:59:08 -0700 (PDT)|
Aha! Here was your original mistake, perhaps. "Mutual benefit corporation" sounds like federal IRC 501(c)(4), which actually wouldn't qualify you for federal HOA status (IRC 528 taxation). But incorporation is a state act, so if you file with IRS as an HOA, they could never know. But the state would, based on your incorporation, which is probably what needs to be changed. You need some better tax advice/representation, I'd say. Good luck.
David in Sacramento again.----- Original Message ----- From: "Ken Lewis" <kenlewisjr [at] yahoo.com>
To: "'Cohousing-L'" <cohousing-l [at] cohousing.org> Sent: Tuesday, August 28, 2007 1:07 PM Subject: Re: [C-L]_ tax exempt status for HOAs
Buzz wrote:If the government of California deals with the issue of nonprofit status in the same way as other states, it will likely only recognize nonprofits that are officially recognized by the IRS under section 501(c)(3) of the Internal Revenue Code.California must deal with it differently. We are officially incorporated asa "nonprofit mutual benefit corporation" under the law by the same name. While we are a nonprofit corporation, being tax-exempt is a different matter. One has to explicitly apply for tax-exempt status. The encouraging thing is that homeowners' associations are listed as anexample of tax-exempt organizations in California. If we get it, this couldbe helpful info for other groups. Thanks for your reply. Ken _________________________________________________________________ Cohousing-L mailing list -- Unsubscribe, archives and other info at: http://www.cohousing.org/cohousing-L/
- Re: tax exempt status for HOAs, (continued)
- Re: tax exempt status for HOAs John Beutler, August 28 2007
- Re: tax exempt status for HOAs Ken Lewis, August 28 2007
- Re: tax exempt status for HOAs David L. Mandel, August 30 2007
- Re: tax exempt status for HOAs Ken Lewis, August 30 2007
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