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Are 501(c) Homeowners Associations required to file a New Mexico CIT return?

April 26, 2017Associations cit file homeowners New Mexico Return

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Are 501(c) Homeowners Associations required to file a New Mexico CIT return?

1 Answer

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No, as a501(c) Homeowners Association, you are not required to file a New Mexico CIT return unless you have unrelated business income at the federal level. In that case you are required to file a CIT return and pay Corporate Income and Franchise tax.