NYS now regulates short-term rentals and requires them to collect taxes

[Saltwater60]

It was only a matter of time but expect costs to go up here.

Hochul signs STR regulation bill, requests chapter amendment

Gov. Kathy Hochul signed a first-of-its-kind bill regulating short-term rentals and requiring them to collect sales tax on Saturday Dec. 24, according to a New York state Senate press release and an approval memorandum from the governor’s office. Her approval was contingent on a number of...

www.adirondackdailyenterprise.com

 

[Koz]

In typical democrat fashion, she is deliberately trying to destroy NYS.

 

[GOPerfect]

What can I say??

 

[TEOTWAWKI inc.]

What can I say??

She's a retarded cunt?

 

[Cooolone]

Wait... If a homeowner pays property tax, then what tax is owed thereafter?

But yeah, NY is in desperation mode because it KNOWS the money train has ended! No more free $$$ coming NY's way under the new administration!

NY got Billions in Covid relief funds from the Feds and went on a drunken sailor spending spree even though it was already in the red budget wise!

Fiscal restraint isn't a thing here ... These misfits politicians feel they can have their arm elbow deep into your pockets unabashed and shamelessly!

NY is in its death throws... And mostly those here cannot see it because they're 'IN' the pickle barrel! And those, a huge majority, who are in the receiving end of the freebies couldn't care as long as they can keep their hand outs!

 

[jimc]

Next up- you'll need to collect sales tax at a garage sale, and pay income tax on your sales.

 

[JRtraderny]

Next up- you'll need to collect sales tax at a garage sale, and pay income tax on your sales.

That might already be a thing .

 

[cgrutt]

Sent article to my buddy who rents his place in Adirondacks, mostly during summer. He said he pays a 4% "bed" tax and 15% VRBO ("marketing") fee so tack on another 8% he's at 27-28%. If there's anything left at end of the day NY and Feds hit him again through income tax. Sad.

 

[libertysnake]

Fiscal restraint isn't a thing here ... These misfits politicians feel they can have their arm elbow deep into your pockets ass unabashed and shamelessly!

Fixed that for you.

 

[Zerex]

Cash is king...................always has been.

 

[OwnTheRide]

Sent article to my buddy who rents his place in Adirondacks, mostly during summer. He said he pays a 4% "bed" tax and 15% VRBO ("marketing") fee so tack on another 8% he's at 27-28%. If there's anything left at end of the day NY and Feds hit him again through income tax. Sad.

Sounds a lot like car rental taxes. Around 25%+ in this state nowadays.

 

[Saltwater60]

Sent article to my buddy who rents his place in Adirondacks, mostly during summer. He said he pays a 4% "bed" tax and 15% VRBO ("marketing") fee so tack on another 8% he's at 27-28%. If there's anything left at end of the day NY and Feds hit him again through income tax. Sad.

Problem is VRBO and AirBnB will in a sense file your taxes for you or report you so there’s no way out of paying this tax for them. NYS knows what you took in from your rental.

 

[cgrutt]

Problem is VRBO and AirBnB will in a sense file your taxes for you or report you so there’s no way out of paying this tax for them. NYS knows what you took in from your rental.

Never suggested he didn't pay his taxes. He also manages alot of properties on behalf of himself as well as clients. I think it's about 200 rentals (long term apartments not vacation). He has accountant handle all the bookkeeping and I'm sure it's all above board. His wife is big shot legal clerk for Albany judge and has run to be a judge herself. They're not messing around with this. Technically this is passed on an paid by customer, but it does affect how much he is able to charge for rental at end of the day.

 

[Saltwater60]

Never suggested he didn't pay his taxes. He also manages alot of properties on behalf of himself as well as clients. I think it's about 200 rentals (long term apartments not vacation). He has accountant handle all the bookkeeping and I'm sure it's all above board. His wife is big shot legal clerk for Albany judge and has run to be a judge herself. They're not messing around with this. Technically this is passed on a paid by customer, but it does affect how much he is able to charge for rental at end of the day.

I also wasn’t suggesting he doesn’t pay his taxes appropriately. I was simply saying that with these places there is no way around it if people don’t want to play the game.

 

[Old Jalopy]

Hmmm...
NY State Senate Bill 2023-S885C