Or. Admin. R. 150-317-0130 - Tax on Homeowner's Association Income
Current through Register Vol. 61, No. 4, April 1, 2022
Homeowners associations, such as condominium management associations and residential real estate management associations, may elect to be treated as tax-exempt organizations for taxable years beginning on and after January 1, 1978. But this tax-exempt status will protect the association from tax only on its exempt function income, such as membership dues, fees, and assessments received from member-owners of residential units in the particular condominium or subdivision involved. The homeowners association taxable income will be taxed at the corporate rates provided in ORS 317.061. To qualify for the election, the association must meet the following conditions:
Publications: Publications referenced are available from the agency pursuant to ORS 183.360(2) and 183.355(1)(b).
Stat. Auth.: ORS 305.100
Stats. Implemented: ORS 317.067
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