Have you turned off the tax?
In 2013 the Missouri Supreme Court clarified a ruling on the taxability of utility expenses for common areas in apartment complexes. Simply stated:
- Electric, gas, & water costs are not subject to state and/or local sales tax
- Apartment complex owners can obtain up to 36 months of refunds on sales taxes paid to utility companies
- Future utility bills can become exempt from sales tax
Over the past few years, The Brennan Group has recovered refunds of over $640,000 for Missouri apartment owners.
- $45,410 in refunds for one complex
- An average of $4,700 per complex
- Even higher savings going forward now that that tax has been turned off!
Why do you need The Brennan Group?
- Reviewing 36 months of invoices is very time-consuming
- The State of Missouri requires specific information presented in a specific way
- The Brennan Group has the team and processes in place to manage the review with only a little of your time
- We do all the work, follow up on getting you the refunds, and make sure you won’t pay sales tax on your utilities in the future
Bottom line – what is this going to cost you?
- An hour or two of your time to talk to us and provide access to your utilities bills
- Our fee is a percentage of the refunds you receive
- No risk to you, we cover all the costs