Tax Issues

Self-storage owners can reclaim previously paid tax dollars and create more property eligible for tax benefits through cost segregation.

Owners of self-storage and other small businesses in Maine are joining local legislators in attempting to repeal a recent tax-reform law that adds a 5 percent sales tax to their services.

Despite the efforts of the local and national self-storage associations, Maine Governor John Baldacci signed a new tax-reform bill last week that applies a 5 percent sales tax to self-storage and several of the states services.

In an aggressive move to pass a bill that will institute a 6 percent sales tax on self-storage and other services in the state, the Illinois Senate has amended House Bill 174 to include the same language as that in Senate Bill 750, which could not...

Senators in North Carolina last week revealed a list of new sources for sales-tax revenue that includes self-storage.

A measure that would repeal the Arkansas state tax on mini-warehouses and self-storage services is headed to the House floor for a vote.

The South Dakota Legislature has established deadlines for business owners and customers to claim refunds for sales taxes improperly collected on self-storage unit rentals. The refunds are the result of a 2008 decision by the state Supreme Court...

The Arkansas Senate voted Monday to repeal the state's tax on mini-warehouses and self-storage services. By a 30-3 vote, the senators approved legislation that would repeal the tax beginning July 1, 2011.

In planning an exit strategy today, self-storage owners will not only be rewarded by operating a better investment in the present term, but will be handsomely rewarded in the future when the property is sold.

On Monday, the South Dakota Senate approved a plan to restore the state sales tax on self-storage units.