Nonprofit property management

From the 2024 DOR Tax Exemption Study

Home Education Industry Guides Real Estate Industry Property Management Services Print Property management services Real estate firms and other businesses may provide property management services to owners of residential or commercial properties. They are primarily responsible for renting or leasing properties, however they may also coordinate routine maintenance and minor repairs. Gross income for property management services is subject to business and occupation (B&O) tax under the Service and Other Activities classification. You are considered the consumer of any goods or retail services you buy in connection with providing property management services. Deductions and exemptions Management services for a housing authority A deduction from B&O tax is available for gross wages, benefits, and payroll taxes paid to, or for, personnel performing on-site functions when received by: Nonprofit property management companies. For-profit property management companies working for a housing authority. For-profit property management companies working for a Limited Liability Company (LLC) or limited partnership (LP) if the sole managing member or sole general partner of the LLC or LP is a hous