October 31, 2013 11:58 PM
There is something that can kill any business. For some it can be too much competition. Others fall to the wayside because technology passes them by. Some find it hard to survive when the economy suffers or falls into a recession. However, there are some—like the self storage industry-- that are resilient. They are able to survive no matter what the detriment is—even the government! [More]
April 1, 2010 4:25 PM
Michigan self storage facilities barely avoiding being subjected to a sales tax in December 2007, when Michigan’s legislature passed a six percent service sales tax and then repealed the tax only a few hours after it went into effect. Instead Michigan legislators decided to add a 21.99 percent surcharge to the state’s new business tax.
But now Michigan’s self storage industry faces the likelihood that the legislature will pass the service sales tax again. Michigan is projecting that in its upcoming fiscal year, starting in October, the state will have a $1.7 billion budget deficit. Governor Jennifer Granholm wants to reinstate the service sales tax to help make up the difference. She told the Michigan Public Radio Network this week that legislators, most of whom are up for reelection in November, would be better off agreeing to a service sales tax now than taking the risk of having to shut down the government for lack of money, a month before the general election. In October 2007, Michigan’s government had to partially shut down for four hours. [More]