Help with tax remittance
New to MyVR and confused on remitting occupancy taxes. I see that a reservation through Airbnb will have the taxes collected and remitted accordingly by Airbnb but what about a reservation booked through MyVR website? I see that the guest paid the taxes but I can't seem to figure out if I need to a tax report/payment for that or if it's being handled another way. To my knowledge, I don't have a sales/occupancy tax account with the state.
@linda-kummerer - depending upon where you are located, you may need multiple tax filing licenses or accounts. For my property I collect and file State, County, and City sales and bed taxes. You will need to find out what taxes are required for your location and be licensed for each collection agency. Alternately, there are businesses that specialize in this for a fee. I would suggest contacting your accountant with this question. If you don’t already have one, now is probably a good time :).
@jenny-oest Thanks Jenny - LOL I am the accountant. Just trying to figure out the MyVR platform for my client.
Taxes are not automatically collected or remitted on bookings made through an owner's website.
MyVR does not automatically collect and remit taxes. Users should determine which taxes are due in their area, set up a rental fee for those taxes, calculate taxes and handle remittance.
It sounds like you already have a Rental Fee for tax set up which is great!
It may be helpful to read through the following resources regarding handling taxes on Airbnb as well, as they do not automatically collect taxes for all locations:
@anne-kohn Thanks, Anne! I've determined that AirBnB is collecting and remitting taxes for reservations made through their site so it was just a matter of figuring out the rest of the process for non-AirBnB bookings. I think I have it sorted out now