New tax on short-term rentals now in effect - WWNY
Summary
A new tax on short-term rentals has gone into effect, according to WWNY. Hosts should familiarize themselves with any new tax regulations to ensure compliance.
Key Insights
- •A new tax on short-term rentals is now in effect.
Action Items
- ✓Review local and state regulations to understand the specifics of the new tax.Effort: lowImpact: medium
Common Mistakes
- ⚠Failing to comply with new tax regulations could result in penalties.
More from Regulations & Compliance
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St. Louis aldermen have approved a short-term rental fee, though a legal battle over existing rules continues. This indicates a focus on regulating the STR market within the city. Hosts in St. Louis should be aware of these new fees, which may impact their profitability. Find out how this affects your STR business.
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