Inside Self-Storage

Tax Issues

South Dakota Bill Proposes Sales Tax on Self-Storage; New Jersey Weighs 1 Percent Tax Reduction

State legislatures continue to look at the self-storage industry as a source of tax revenue, with South Dakota the latest to propose the imposition of sales tax on unit rentals. Meanwhile, lawmakers in New Jersey have introduced a bill that would the lower sales tax by 1 ...More
1 week ago
Posted in News, Legal Issues, Management
Tax Break Helps Self-Storage Operators Buy Kiosks in 2011

INSOMNIAC self-storage kiosks qualify for the IRS Tax Code Section 179 tax deduction, effectively reducing the cost of a kiosk by 35 percent, according to the manufacturer, OpenTech Alliance Inc. ...More
October 10, 2011
Posted in News, Finance, Management, Technology
Self-Storage Operator in TN Upset Over Tax Increases Aims to Dissolve City Government

A self-storage operator in La Vergne, Tenn., irate over steep tax increases is part of group looking to dissolve the local government. ...More
July 1, 2011
Posted in News, Legal Issues, Management
Sales Tax on Self-Storage Introduced in North Carolina Legislature

A potential sales tax on self-storage has once again been introduced to the legislature in North Carolina, and the national and North Carolina Self Storage Associations have jumped to combat the measure. ...More
April 25, 2011
Posted in News, Finance, Legal Issues, Management
Illinois Self-Storage Operators Face New Sales-Tax Bill

Despite past victories over sales-tax legislation, self-storage operators in Illinois face another new bill that would tax their business as a service. ...More
March 2, 2011
Posted in News, Finance, Legal Issues, Management
Senate Repeals IRS 1099 Reporting Requirements, Legislation Moves to House

The recently enacted IRS 1099 report, in which every company must document annual purchases totaling more than $600 in goods and services, may soon be reversed. ...More
February 14, 2011
Posted in News, Legal Issues, Management
Illinois Self-Storage Operators Officially Celebrate: No Service Tax

The Illinois 96th General Assembly ended yesterday, putting to rest fears on behalf of self-storage operators that the state would soon attach a service tax to their businesses. ...More
January 13, 2011
Posted in News, Finance, Legal Issues, Management
Illinois Self-Storage Operators May Have Dodged Service-Tax Bullet ... Again

Lobbyists for the Illinois Self Storage Association (ISSA) were at the State Capitol last night awaiting information about an amendment that seeks to add a service tax to 44 industries, possibly including self-storage. In reviewing the language of the amendment proposed for ...More
January 7, 2011
Posted in News, Legal Issues, Management
New Tax Law Favorable to Commercial Real Estate

On Dec. 17, President Obama signed an $859 billion tax cut and stimulus package that should strengthen commercial real estate and spur economic recovery. The legislation includes two tax extensions that will significantly influence the commercial real estate sector. ...More
December 30, 2010
Posted in News, Legal Issues, Real Estate
Going to Market: Long-Range Planning Helps Self-Storage Sellers Build Value Prior to Sale

Self-storage operators who intend to list a self-storage facility for sale in the near future, should follow these guidelines to help them prepare for the transaction and build more value into their asset. ...More
December 17, 2010
Posted in Articles, Management, Real Estate

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