Rhode Island's 8% Tax on Short-Term Rentals
Posted by Leslie Hogan on
8% short-term rental tax effective July 1, 2015.
Here are the details:
WHO WILL OWE THE TAX?
- Private Home Owners who rent their homes for fewer than 30 consecutive days will be required to obtain a sales tax permit and collect an 8% tax (7% sales tax plus a 1% hotel tax). Real estate commissions and cleaning fees included as part of the lease are also subject to the tax. Refundable damage deposits are not taxed.
WHO COLLECTS THE TAX?
- Homeowners are responsible for collecting taxes from tenants. Homeowners are also responsible for collecting the tax if their tenants sublet their property (with or without their knowledge).
This is an excerpt of the DRAFT regulation distributed 6/24/15 regarding Agents' responsibility for tax…
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