HOA non-profit tax exemption

Started by JoanneW1 • 2 replies • 1203 views

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JoanneW1 (North Carolina)
Posts: 1

Posted:

Does anyone know what the stipulations are for a HOA to receive a tax exemption? We are in the process of purchasing decorative street signs, and it would be a large savings for our HOA if we did not have to pay taxes on them. We are a North Carolina community of 50 homes and do not have any "common" areas.

BrianB (California)
Posts: 2,820

Posted:

typically, HOA's are businesses, not religions or charities, and so do not get many breaks. Being "not for profit" doesn't get you a lot of tax breaks anymore unless you are one of the big two. Ask the Boy Scouts, for example...

DonN (Michigan)
Posts: 357

Posted:

This has been discussed in prior posts. I suggest a search on "tax exempt".

Don Nordeen
Governance of Property Owners Associations

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