Quote:
Originally Posted by dalecrenshaw
You need to get a business license from the Florida State and the county that you live in. Then you have collect and pay sale's tax with the State and County every month (even if it is not rented that month). There are large fines/penalties if you don't. It is just like if you were to rent a hotel room - you pay for the room, plus sale's tax.
|
I don't know where you got your information from but I disagree. Granted, I sold my rental 3 years ago and things may have changed. In Florida in this county you pay either 7 or 9% tax on the rental price, forget the exact amount. Some landlords included that in the rent. You only paid the tax when you had renters but had to send in only the coupon ticket every month, no money unless it was rented.
There's no business license license but you do need to check with FL DOR in Leesburg to start getting your "coupon book" so you can pay taxes. The tax is like the hotel tax but called a transient rental tax. If it's rented more than 6 months to one person, no taxes are due.
It's quite easy. You do need to have it rented more than 6-7 months in order to make a profit.