VRBO parent company sues the state of Michigan over $18.8 million tax bill - MLive.com
Summary
VRBO's parent company is in a legal battle with the state of Michigan over an $18.8 million tax bill. This highlights the complex relationship between STR platforms and state revenue, specifically regarding tax compliance. Hosts should understand that platform tax obligations can be substantial and lead to significant financial risk. Staying current with STR tax laws is crucial.
Key Insights
- •VRBO's parent company is facing an $18.8 million tax bill from the state of Michigan.
Action Items
- ✓Hosts should review their tax obligations and ensure compliance with both local and state regulations.Effort: lowImpact: high
Common Mistakes
- ⚠Failing to understand and comply with tax regulations can result in significant financial penalties for hosts.
More from Regulations & Compliance
The Green Bay Common Council will consider changes to its short-term rental ordinance. This could involve new regulations or revisions to existing rules. Hosts in Green Bay should stay informed about potential updates and how they might impact their operations.
Local commissioners denied a short-term rental application, suggesting potential regulatory hurdles for new STR operations. This indicates increasing scrutiny on STRs within this locality. Hosts should be aware of potential local restrictions and permitting requirements before investing in or launching short-term rentals.
The Green Bay Plan Commission is updating its short-term rental ordinance. Details are not given, but this news signals potential changes for hosts in the area. Hosts should stay informed about the new regulations to ensure compliance and avoid penalties.
Curated by Learn STR by GoStudioM