PUD Taxes
Similar to homeowners associations, planned unit developments (PUDs) are not exempt from paying income taxes and filing tax returns. Get the help you need by hiring the tax professionals at Clark Simson Miller.
865.315.7505
help@csmhoa.com
Similar to homeowners associations, planned unit developments (PUDs) are not exempt from paying income taxes and filing tax returns. Get the help you need by hiring the tax professionals at Clark Simson Miller.
Although they go by a different name, planned unit developments work similarly to homeowners associations. They are organized as nonprofit corporations in most states, though that doesn’t mean they are tax-exempt. On the contrary, PUDs are required by federal law to file tax returns even if they don’t owe any taxes.
Planned unit developments can use one of two tax forms to file their federal returns: Form 1120 and Form 1120-H.
When it comes to state income taxes, the requirements can change drastically from state to state. Each state has its own tax code and forms, though a handful of states don’t impose income taxes at all. Due to this, PUDs are advised to seek help from a tax professional when filing their state returns.
Planned unit developments are required to file tax returns, but they often struggle because of how complicated the process can be. Thankfully, Clark Simson Miller offers federal and state PUD tax preparation services designed to make tax season easier.
Clark Simson Miller can help you with the following:
Clark Simson Miller specializes in accounting and PUD taxes, among other services. We have years of experience providing our clients with the best services and unmatched results. Plus, our team of tax professionals are experts in their field and always stay up-to-date on all the tax code changes.
Call us today at 865.315.7505 to learn more or contact us online to request a proposal.