October 12, 2011 6:28 PM
There is an old saying that goes something like this: the tax man giveth, and he taketh away. Ask most people and they’ll tell you how he takes from them in the form of higher taxes. When it comes to the self storage industry and different initiatives that many within it are undertaking, the tax man does an awful lot of giving. [More]
July 12, 2011 8:15 AM
The government purchase of Affordable Self-Storage in Boise, Idaho, last year has always been a controversial one, especially with self storage operators and local business owners who cried foul, accusing Idaho of competing unfairly with the private sector. Now two key players in the purchase – Gov. C.L. “Butch” Otter and Superintendent of Public Instruction Tom Luna - say they made a mistake when they voted to spend $2.7 million to buy the storage business and use the revenue to benefit Idaho public schools and other state institutions. [More]
November 23, 2010 2:26 PM
When the State of Idaho purchased Affordable Self Storage for $2.7million it was done with the same reasons in mind that any person has when it comes to investing, making money. Self storage facilities are a solid investment after all, something that will always be in need. Little did they realize the trouble that would ensue from this simple business transaction. [More]
November 19, 2010 10:44 AM
President Obama has put forth much legislation in the hopes of helping small businesses grow and thrive, depending on a person’s opinion of his political objectives. But a major trip up in a new act could cost self storage owners a lot of money in the form of taxes and require piles of paperwork. [More]
May 6, 2010 8:24 AM
An Eyewitness News report from KSTP TV in Minneapolis/St. Paul has revealed that the state of Minnesota is using expensive rented offices as storage space for files. The office space is rented for a price that averages out to about nine dollars per square foot of space. In all, the state of Minnesota pays about $21,000 per year to rent the offices that is uses as storage.
An Eyewitness News team found self storage facilities nearby that rent climate-controlled storage space (though without the view of Mears Park that can be seen through the window of the St. Paul offices of the Minnesota Housing Finance Agency) for only $1.50 per square foot. According to Costhelper.com, that amount is fairly standard in the storage industry. [More]
April 15, 2010 1:28 PM
In an attempt to balance their states' budgets, Michigan and North Carolina have been considering a tax on services, including self storage, for several months. Now Pennsylvania's Governor wants Pennsylvania to follow suit. Pennsylvania Governor Ed Rendell announced earlier this month that he wants to lower Pennsylvania's sales tax from six percent to four percent, but apply it to more purchases, including sales of services such as self storage.
Only a few special kinds of sales would remain free of sales tax in Pennsylvania if Rendell's budget plan is approved by the legislature. The last remaining untaxed sales goods would be food, clothing, drugs, manufacturing, and sales by nonprofit groups. In addition to self storage, other services that would be taxed under Rendell's budget plan include home appraisals, engineering, accounting, legal services, and consulting. Nearly all services would be taxed in Pennsylvania -- health care services and educational tuition, however, would remain untaxed. [More]