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How do I collect occupancy tax for my vacation rental?

How do I find out the current rates in my area? What should I do once I've collected the money?

1 Answers

Many United States jurisdictions require the owner of a vacation rental to collect and remit occupancy tax on the property. There is usually no minimum, so owners must comply whether they rent out just one or one hundred units. Check to see if the community where your rental property is located imposes such a tax, and if it does, be prepared to register the property and, in some cases, purchase a permit. You must then file monthly or quarterly occupancy tax returns. The regulations and forms are typically available on the community's website. Many savvy vacation rental owners forgo the time-consuming paperwork and have a professional rental management company do all the work for them; the choice is yours.