[Revenews] Certain homeowners associations not subject to minimum tax

[BALES Duane * DOR]

On January 1, 2014, the Department of Revenue amended administrative rule 150-317.067 so that, under certain circumstances, a homeowners association does not have to file an Oregon Corporation Excise Tax Return, or pay the corporate minimum tax.  Section 6 of the rule states that "[i]f a homeowners association that elects to be treated as a tax-exempt organization does not have positive homeowners association taxable income, the association is not required to file an Oregon Corporation Excise Tax Return, Form 20 and is not subject to the minimum tax."

Taxpayers and practitioners are advised to consider this amended rule when preparing corporate tax returns.


-------------- next part --------------
An HTML attachment was scrubbed...
URL: <http://listsmart.osl.state.or.us/pipermail/revenews/attachments/20150415/008f508a/attachment.html>