News & Analysis as of

Rental Property Sales Tax

Lowndes

Governor DeSantis Aims to Eliminate Florida Commercial Rent Sales Tax by 2027

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As part of the proposed $115.6 billion state budget for fiscal year 2025-26, Governor DeSantis has outlined a plan to eliminate Florida's longstanding commercial rent sales tax. This proposal continues Florida's tax reduction...more

Womble Bond Dickinson

Recap of 2024 Arizona Tax Developments: No More City Sales Tax on Residential Rentals!

Womble Bond Dickinson on

Beginning January 1, 2025, Arizona lessors will no longer be required to collect and remit city Transaction Privilege Tax (TPT) on residential rentals. Senate Bill 1131, Chapter 204, Laws 2023 amended Ariz. Rev. Stat. Ann. §...more

DarrowEverett LLP

What Florida Sales Tax Cut Means for Florida Commercial Tenants

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Broadly speaking, according to the Florida Department of Revenue, each Florida sale, amusement park admission, storage unit and rental is taxable (unless it falls under an exemption, such as nonprofits). More specifically,...more

Holland & Knight LLP

Florida's State Sales Tax on Real Property Commercial Leases to Decrease Effective June 1, 2024

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The Florida Department of Revenue released Tax Information Publication (TIP) 24A01-02 on April 8, 2024, indicating that the state sales tax rate on the "total rent charged for renting, leasing, or granting a license to use...more

Holland & Knight LLP

Florida State Sales Tax on Commercial Real Property Leases Decreases on Dec. 1, 2023

Holland & Knight LLP on

Florida Gov. Ron DeSantis signed House Bill (HB) 7063 into law on May 25, 2023, which provides short-term and long-term tax relief for Florida taxpayers. (See Holland & Knight's previous alert, "Florida Gov. Ron DeSantis...more

Lowndes

New Law Reduces Florida’s Sales Tax Rate on Commercial Rent

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Effective December 1, 2023, the State of Florida’s sales tax rate on commercial real property lease payments (including base rent and additional rent) will be reduced from 5.5% to 4.5% for payments received for occupancy...more

Bilzin Sumberg

Decrease in Florida Sales Tax on Commercial Rent

Bilzin Sumberg on

Effective as of January 1, 2020, the Florida state sales tax rate applicable to the lease of commercial real property has decreased from 5.7% to 5.5%.  Therefore, the state will levy a 5.5% sales tax on all rent collected...more

Lowndes

Two Legislative Changes to Pay Attention to

Lowndes on

Here’s how the recent legislative changes will affect you: Spousal Homestead Transfer - A new law signed by Governor DeSantis extends the documentary stamp tax exemption for the conveyance of homestead property between...more

Foster Garvey PC

Short-Term Rental Update: Airbnb argues about City of Boston's short-term rental ordinance; AirDNA expands footprint of rental...

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Airbnb Back in Court - ("New rules don’t seem to be bringing Boston many short-term rental applications," Curbed - Boston on Apr 10) Earlier this week, Airbnb was in court arguing that the City of Boston’s short-term...more

Foster Garvey PC

Short-Term Rental Update: HomeAway and Airbnb lose the battle against Santa Monica; Blueground gains traction

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HomeAway and Airbnb Lose the Battle Against Santa Monica - ("Airbnb Loses Major Fight Over California City's Rental Law," Bloomberg Quint - Stories on Mar 13, 2019) On March 13, the Ninth Circuit ruled against HomeAway and...more

Foster Garvey PC

Short-Term Rental Update: Short-term rentals continue to gain market share; partnering early in the multifamily development...

Foster Garvey PC on

Short-Term Rentals Continue to Gain Market Share - ("Booking Holdings breaks down private accommodation revenues for first time, now at 20% of total," Phocuswire, Feb 27, 2019) Alternative accommodations, including...more

Foster Garvey PC

OTA & Travel Distribution Update - Pennsylvania closes tax loophole; voice not only for front of house applications; Expedia Group...

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This week's Update includes a story detailing yet another state’s efforts to close existing tax loopholes so that it may collect proper sales/occupancy taxes from OTAs. I hope you enjoy....more

Bilzin Sumberg

Reducción de impuesto a las ventas sobre la renta comercial en Florida

Bilzin Sumberg on

El estado de Florida aplicó un impuesto a las ventas sobre la renta comercial desde 1969. En la actualidad, el impuesto tiene una tasa del 6 por ciento en cada condado, excepto en Miami-Dade, que fija una tasa del 7 por...more

Bilzin Sumberg

Florida Sales Tax on Commercial Rents Reduced

Bilzin Sumberg on

The State of Florida has imposed a sales tax on commercial rents since 1969. Currently, the tax is imposed at the rate of 6 percent in every county except Miami-Dade which fixes the rate at 7 percent by reason of an add-on...more

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