Report: Airbnb has a potential tax bilt of USD440 million
Monday, 27 Oct, 2016
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Home sharing platform Airbnb would be liable for about $440 million in tax if it had tax collection agreements with all 50 US states.
About 60% of taxes have gone unpaid as it only has agreements in place with 26 states, estimates AllTheRooms.com in a new report published this week.
The report, entitled ‘440 Million Reasons to Tax Airbnb Vacation Rentals’ was published days after New York imposed fines on Airbnb hosts who advertise apartments on the online platform.
The report estimates New York is owed $110 million in tax based on revenue generated by Airbnb bookings.
This is more than double the next highest tax bill, in Hawaii at $51 million.
It bases estimates on standard hotel tax rates in each municipality.
"Any changes to current legislation governing short-term room rentals needs to take into account, not only the tax implications of the rental market, but also the wide variety of operational standards that the travel industry has been held to for years," the report says.
Meta search engine AllTheRooms.com offers search results for all accommodation types from traditional hotels to vacation rentals including Airbnb.
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Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.
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