REALTORS and Homeowners Are Invited To An Information Session Presented by the Rhode Island Department of Revenue
RISBJ Staff | Jun 22, 2015
NARRAGANSET, RI – What: REALTORS and homeowners are invited to an information session presented by the Rhode Island Department of Revenue to discuss the tax on short term private home rentals proposed in Article 11 of the Governor’s FY 2016 budget. The tax will take effect on July 1, 2015 if included in the budget upon passage.
Article 11 would require homeowners to collect an eight percent tax from tenants on short-term rentals of an entire house, or a 13 percent tax on rentals of a portion of the property (ie., one or two rooms.) Only those rentals which have been paid in full prior to July 1, 2015 will be exempt.
When: Wednesday, June 24th, 9-11 a.m.
Where: Assembly Hall/Narragansett Town Hall
25 Fifth Avenue
Narragansett, RI 02882
Narragansett, RI 02882
Questions that will be answered include:
How will the tax affect your rental properties?
Which rentals will be taxed?
Which rentals are exempt?
Who is responsible for collecting the tax?
How will the tax affect rentals that were booked months ago?
What are the penalties if you don’t comply?
Do homeowner and/or rental agents have to obtain a sales tax permit?
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