State Law has numerous requirements for vacation property owners.
Transient Accommodations Taxes and General Excise Use Taxes. State law requires the payment of Transient Accommodation Taxes and General Excise Taxes on “gross rental proceeds” collected for short term vacation rentals (less than 180 days). For more details, click here.
ACT 204. It is recommended that all owners become very familiar with ACT 204 which took affect on January 1, 2016. The new law mandates stiff penalties for failure to follow its provisions. To find out more, please see Act 204.
General Information for Owners. We also recommend that owners be very familiar with requirements for rental property owners found in the the Information for Owners of Rental Property (MAR 2014) brochure published by the Department of Commerce and Consumer Protection.
Please consult with your tax advisor if you have any questions.