Frequently Asked Questions
Is a homeowners association (HOA) that is a nonprofit required to file a corporation franchise tax return with the State?
Yes, a HOA organized as a corporation is subject to the franchise tax even when is it a nonprofit pursuant to LA R.S. 47:601 and LAC 61:I.308(A)(2) and the HOA is required to file a Form CIFT-620. However, LAC 61:I.308(A)(2) provides the general guidelines for obtaining an exemption from franchise tax. The HOA’s in question will need to obtain a written exemption from the Department concerning franchise tax if they want to be exempt.