LMCP_Hall Association

may lose their tax-exempt status, making hall income subject to federal income tax.

RESOURCE: IRS Form 990 filing thresholds

California Form 199: Franchise Tax Board (California Exempt Organization Annual Information Return) The California Form 199 is an information return required from all nonprofit organizations in California regardless of gross income. The type of form requires is based on gross income. The deadline to file the Form 199 is May 15 for hall associations operating on the calendar year – or, if you’re one of the few associations with a fiscal year different from the calendar year, the 15 th day of the 5 th month after the end of the fiscal year. Halls that do not file on a timely basis may lose their tax-exempt status, making hall income subject to California income tax.

RESOURCE: California Franchise Tax Board website

68