### Question
How does NORMAL TAXES AND SURTAXES define homeowners association?


### Answer
Under *26 U.S.C. § 528*, **homeowners association** is defined as:

> an organization which is a condominium management association or a residential real estate management association if—


(A) such organization is organized and operated to provide for the acquisition, construction, management, maintenance, and care of association property,


(B) 60 percent or more of the gross income of such organization for the taxable year consists solely of amounts received as membership dues, fees, or assessments from—


(i) owners of residential units in the case of a condominium management association, or


(ii) owners of residences or residential lots in the case of a residential real estate management association

#### Citation:
  - *26 U.S.C. § 528*
  - Heading: **Subtitle A-Income Taxes > CHAPTER 1-NORMAL TAXES AND SURTAXES > Subchapter F-Exempt Organizations > PART VII-CERTAIN HOMEOWNERS ASSOCIATIONS**

