Inside Self-Storage

Tax Issues

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
The State of Idaho’s Purchase of a Self-Storage Facility: The Chilling Conclusion, Part I

A month after the state of Idaho purchased a self-storage facility, many questions remain. Here's a closer look at the state's response to industry outrage and opposition, plus an analysis of the state's answers. ...More
December 8, 2010 By Matthew Van Horn
Posted in Blog, Legal Issues, Real Estate
Self-Storage and Other Businesses Race to Use Expiring Solar-Energy Grant Program

Companies nationwide that are eager to take advantage of federal grant program providing owners of solar projects with a 30-percent cash incentive are rushing to complete by Dec. 31. Fortunately, Michael Kane of 126 Self Storage in Ashland, Mass., was able to finish his ...More
November 29, 2010
Posted in News, Construction, Development, Finance
1099 Reporting Requirement: A New Compliance Problem for Self-Storage Operators?

The Form 1099 requirement could have two potentially negative impacts on your day-to-day self-storage operation. ...More
November 19, 2010 By Jeffrey Greenberger
Posted in Articles, Finance, Legal Issues, Management
Self-Storage Businesses and Government Don't Mix

The recent acquisition of a self-storage facility by the state of Idaho could set a dangerous precedent. Blogger Matthew Van Horn enumerates all the reasons why this is a bad idea for the self-storage industry. ...More
November 3, 2010
Posted in Blog, Legal Issues, Management, Real Estate
Maine Voters Repeal Tax-Reform Bill, Self-Storage Saved From Sales Tax

Last week Maine residents voted to repeal tax-reform legislation that would have added sales tax to self-storage as well as 101 other services. ...More
June 14, 2010
Posted in News
Self-Storage Operators Face Municipal Tax Threat in Illinois

The national Self Storage Association (SSA), Illinois Self Storage Association (ISSA) and several of their members have launched a campaign against a self-storage sales tax that is already in force in several suburban Chicago municipalities and has been proposed for more. ...More
May 4, 2010
Posted in News

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