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#5
08-23-2005, 05:11 AM
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 Re: Does incorporated homeowners's assoc. need to issue stock? Reminds me of a bumper sticker I've seen that reads "Quality Child Care...Pay Now or Pay Later." It could be changed to read, "Quality Legal Advice...Pay Now or Pay a Whole Lot More Later." Cheryl Kaster << ================================================== ===== > << The foregoing is intended for educational purposes only > << and does NOT constitute legal OR professional advice. > << > << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org. > << Copyright (2005) - All rights reserved. > << ================================================== ===== > |
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#4
08-21-2005, 12:10 AM
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| Re: Does incorporated homeowners's assoc. need to issue stock? "Phil Marti" <prm20871[at]verizon.net> wrote: - quote - > "Cherrybounce" <chdavi15[at]hotmail.com> wrote:
Works for me - I make a lot more money that way.> > I've incorporated a homeowner's association for a > > new subdivision. Because it is a corp does it > > need to issue stock? To whom? > Ask a lawyer. Come to think of it, developing a subdivision > without legal counsel seems to define "penny wise and pound > foolish." Stu << ================================================== ===== > << The foregoing is intended for educational purposes only > << and does NOT constitute legal OR professional advice. > << > << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org. > << Copyright (2005) - All rights reserved. > << ================================================== ===== > |
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#3
08-19-2005, 04:12 PM
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| Re: Does incorporated homeowners's assoc. need to issue stock? Cherrybounce wrote: - quote - > I've incorporated a homeowner's association for a
Every incorporated Homeowners Assoc. I have seen was> new subdivision. Because it is a corp does it > need to issue stock? To whom? incorporated as a non-stock, not for profit organization. -- Alan http://taxtopics.net << ================================================== ===== > << The foregoing is intended for educational purposes only > << and does NOT constitute legal OR professional advice. > << > << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org. > << Copyright (2005) - All rights reserved. > << ================================================== ===== > |
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#2
08-19-2005, 04:11 PM
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| Re: Does incorporated homeowners's assoc. need to issue stock? "Cherrybounce" <chdavi15[at]hotmail.com> wrote - quote - > I've incorporated a homeowner's association for a
HOA's don't issue stock, but its charter will spell out> new subdivision. Because it is a corp does it > need to issue stock? (or it should) that each lot owner is a member of the HOA. Basically it saves time and money better to be used elsewhere to the HOA than in printing and issuing paper certificates and having the home owner lose them eventually, causing you to have to reprint them. No dividends or profits are ever paid to the home owners. Although you can refund part of their dues or fees. -- Paul A. Thomas, CPA Athens, Georgia taxman at negia.net << ================================================== ===== > << The foregoing is intended for educational purposes only > << and does NOT constitute legal OR professional advice. > << > << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org. > << Copyright (2005) - All rights reserved. > << ================================================== ===== > |
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#1
08-19-2005, 04:09 PM
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| Re: Does incorporated homeowners's assoc. need to issue stock? "Cherrybounce" <chdavi15[at]hotmail.com> wrote: - quote - > I've incorporated a homeowner's association for a
Ask a lawyer. Come to think of it, developing a subdivision> new subdivision. Because it is a corp does it > need to issue stock? To whom? without legal counsel seems to define "penny wise and pound foolish." -- Phil Marti Clarksburg, MD << ================================================== ===== > << The foregoing is intended for educational purposes only > << and does NOT constitute legal OR professional advice. > << > << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org. > << Copyright (2005) - All rights reserved. > << ================================================== ===== > |
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08-19-2005, 04:02 PM
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| Re: Does incorporated homeowners's assoc. need to issue stock? "Cherrybounce" <chdavi15[at]hotmail.com> wrote: - quote - > I've incorporated a homeowner's association for a
It depends. If you incorporated it as a nonprofit, there> new subdivision. Because it is a corp does it > need to issue stock? To whom? is no stock, there are only memberships. If incorporated as a for-profit, the homeowners are also the shareholders. The proportion of ownership can be related to the number of units owned, the amount paid by the first owners, the number of square feet or any number of other ways. Stu << ================================================== ===== > << The foregoing is intended for educational purposes only > << and does NOT constitute legal OR professional advice. > << > << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org. > << Copyright (2005) - All rights reserved. > << ================================================== ===== > |
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#-1
08-18-2005, 04:54 AM
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| Does incorporated homeowners's assoc. need to issue stock? I've incorporated a homeowner's association for a new subdivision. Because it is a corp does it need to issue stock? To whom? Thanks. << ================================================== ===== > << The foregoing is intended for educational purposes only > << and does NOT constitute legal OR professional advice. > << > << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org. > << Copyright (2005) - All rights reserved. > << ================================================== ===== > |
| Tags |
| assoc, homeowners, incorporated, issue, stock |
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