Capital Improvement

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Good morning,   I received a phone call from a consulting company who is working for a client, Related Mgmt.,  that we have a maintenance contract with.  She claims that a Capital Improvement Certificate should have been issue to us along with any other contracts and or agreements that were signed.  Now they want us to reimburse/issue a credit for all taxes that our client has paid us for a year.  My question is, can they rightfully make this request and second, how can we make sure that they are entitled to make this request, should they have a Capitol Improvement Certificate?

demetriayvonne

in Taxes 12 years and 10 months ago

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elbow | 12 years and 10 months ago

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If it’s maintenance that you did for them, it’s unlikely to fit the definition of a Capital Improvement, right? I looked this up a while ago for NYS tax. They have a publication 862 that differentiates between capital improvements and repair/maintenance for most types of work. For example initial installation of ductwork, additional ductwork of replacement of a complete central AC unit would be a capital improvement, repair or replacement of a compressor, fan or blower would not.