City of Columbia might hire firm to ensure Airbnb, Vrbo properties pay taxes - KOMU 8
Summary
The City of Columbia, Missouri, is considering hiring a firm to ensure Airbnb and VRBO properties pay their taxes. This means hosts in Columbia may face increased scrutiny regarding tax compliance. Hosts should familiarize themselves with local tax regulations and ensure accurate reporting.
Key Insights
- •The City of Columbia is potentially increasing tax enforcement on short-term rentals.
Action Items
- ✓Hosts in Columbia should review local tax regulations to ensure they are compliant.Effort: lowImpact: medium
Common Mistakes
- ⚠Failing to pay required taxes can result in penalties.
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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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