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Tax-exempt, or Not-for-profit?

/ Owner - November 1, 2012

We are frequently asked, “If we are a not-for-profit corporation, why do we still have to pay taxes?” Tax exempt and not-for-profit are two completely different concepts in the world of community associations. The notion of being not-for-profit stems from the fact that the association’s income is only the maintenance fees collected from the members. The income generated from these maintenance fees is not taxed as income.  Read More……

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