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Should I be collecting taxes on my vacation rental?

I'm not sure if I need to collect taxes or what kind of tax. Where do I find this out?

Asked By: Mike

Tags: Legal Rates

1 Answers

Mike

It depends on where you live. Different states have different tax laws. Once you determine what city your home is legally registered in, register your rental property and you'll find whether you're subject to collect taxes for the city and/or state. You'll then have to calculate your own tax amount--HomeAway commissioned a company called HotSpot Tax Services to make a chart to outline how taxes work. Collecting vacation rental taxes, however, is a whole other matter.