Jersey Shore Landlords Become Subject to New “AirBnB Tax”

In one of the more recent attempts to regulate and tax the growing internet economy, New Jersey has become one of the first big states to adopt a surcharge on rentals of fewer than 90 days, a so-called “AirBnB Tax”. Though the tax became effective October 1, 2018, the New Jersey Division of Taxation issued guidance on March 1, 2019 to clarify the new law for New Jersey landlords as they gear up for the 2019 summer rental season. The AirBnB Tax imposes Sales Tax, the State Occupancy Fee, and the Meadowlands Regional Hotel Use Assessment on charges associated with the rental of “transient accommodations,” (as defined below) totaling a 11.625% tax on most short-term rentals that fall within the confines of the new law. The law also authorizes certain municipalities to amend or adopt an ordinance to impose the following taxes on charges for transient accommodations: the Municipal Occupancy Tax, Sports and Entertainment Facility Tax – Millville,…

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