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Real Estate


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June 14, 2010

Property managers hit with more taxes

  • B&O taxes are now required on money received from building owners for wages and benefits of on-site personnel.
    • By MARC STILES
    Journal Staff Reporter

    Count property management companies among those businesses most frustrated by the state Legislature's new budget.

    For the first time, they must pay a business-and-occupation tax on money received from building owners for the wages and benefits of on-site personnel. State law had exempted that revenue from taxation. The Legislature rescinded the exemption effective June 1.


     
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