7
STATE TAX
REQUIREMENTS
Beyond federal obligations, state tax
requirements vary. Some states treat HOAs
as corporations and require state filings,
especially if there's non-member income or
rental income.
If the community qualifies for state-level
tax-exempt status, it still might need to
file state information returns or periodic
compliance documents. For example, in
states like
California, HOAs might need to
file information or franchise tax returns if
they have non-member income.
Because state laws differ significantly,
consulting a Certified Public Accountant
(CPA) familiar with your state's
requirements is recommended.
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