Must an Association file federal income taxes?
May 12, 2016
In Tennessee, homeowners associations and condominiums associations are generally formed as non-profit corporations. This means that they are corporations that are not intended to make a profit; they are not “businesses”. They are not charitable organizations. Homeowners associations and condominium associations must file federal income tax returns, just like any other corporation. However, because of…
READ MOREAn Association’s Right to Non-Judicially Foreclose…
March 15, 2015
Often our first contact with an association begins with a discussion about a member who is seriously delinquent in the payment of their assessments. The Board wants to know what they can and should do. The answer we give often comes as a surprise. Have you thought of a non-judicial foreclosure? Many Boards do not…
READ MOREThe Difference Between Non-Profit and Tax Exempt
March 21, 2014
In representing condominium and homeowners associations, I often have to correct misinformation about the nature of such entities. Recently, I have seen many members and Boards mention that their associations are 501(c)(3)’s. They are not. This is a common misconception regarding the nature of condominium and homeowners associations. In Tennessee mandatory condominium and homeowners associations…
READ MORE2014 Tennessee Legislative Update — HB2060/SB2198
February 7, 2014
We switch from a federal case on takings law to a bill that was filed in the Tennessee General Assembly on January 23, 2014: http://wapp.capitol.tn.gov/apps/BillInfo/Default.aspx?BillNumber=SB2198. HB 2060/SB 2198, as proposed, would prohibit homeowners associations and condominium associations from: (1) Prohibiting any person from parking on any public street located within any county or municipality of…
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