Sunday, June 28, 2015

Lodging Taxes and Airbnb Hosts: Who Pays, and How

Renting out a spare bedroom, or your entire house, to make some extra money is easier to do these days, thanks to online listing services and the mushrooming "sharing" economy. But inexperienced owners may be unaware that they usually must collect and pay hotel taxes due on short-term rentals.

Hotel taxes, also known as lodging or transient occupancy taxes, typically apply to rentals of 30 or fewer days in most areas. If you're leasing out a property for several months or a year, you're generally off the hook; still, some areas impose the taxes for rentals of up to 90 days or even longer. In Florida, a popular tourist destination, the tax applies to rentals of six months or less.

Read more... http://mobile.nytimes.com/2015/06/17/your-money/lodging-taxes-and-airbnb-hosts-who-pays-and-how.html?referrer=&_r=0

Reuters: Financial Services and Real Estate

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