In Texas, property owners associations (“Associations”) are typically non-profit corporations created under Chapter 22 of the Texas Business Organizations Code. As a result, many Associations want to know if they qualify for certain tax exemptions reserved for non-profit entities, which can be significant over the life of the Association. Texas tax law provides an exemption from sales tax on goods and services purchased for use by organizations exempt under Section 5.01(c)(3), (4), (8), (10) or (19) of the Internal Revenue Code (the “Code”) Read the entire article……………………………….
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