How to set up payment of taxes on rental property

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Old 04-29-2015, 11:16 AM
mhagen01 mhagen01 is offline
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Default How to set up payment of taxes on rental property

Recently purchased a new home in The Villages and will be setting up to rent. I understand there is a sales tax that must be paid times that the unit is rented less than six months. I appreciate suggestions on how best to set this process up and if these taxes are to be paid to the state or are taxes due to the county as well..... Just learning a new process. Thank you
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Old 04-29-2015, 11:26 AM
Ohiogirl Ohiogirl is offline
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Default It' a "transient" tx

like a hotel tax, when it's rented for less than 6 months and a day. Do a google search for Florida. You can pay online every month. Just remember that you also have to file for $0 income in the months it's not rented, or there will be a fine. If you need to call to help set up, as I did, they will be very helpful, I thought.
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Old 04-29-2015, 12:16 PM
dalecrenshaw dalecrenshaw is offline
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Yes, sale's tax is due to both the County you live in and the State of Florida. You can go to MyFlorida.com - Home to get all the details. Since we are in Lake County, we pay 7% to the State and 4% to Lake County every month that the house is rented. You also need to report, even if you don't have a renter. I believe the State website will direct you to your County information from there. You also need to get a "business license" from the state and also from the county that you are located in. Google the county that you live in. You also have to follow certain regulations. such as having emergency lighting, a map of exits in case of fire, etc. which should be on their website.
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Old 04-29-2015, 02:11 PM
big guy big guy is offline
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Quote:
Originally Posted by mhagen01 View Post
Recently purchased a new home in The Villages and will be setting up to rent. I understand there is a sales tax that must be paid times that the unit is rented less than six months. I appreciate suggestions on how best to set this process up and if these taxes are to be paid to the state or are taxes due to the county as well..... Just learning a new process. Thank you
Yes you will have to pay sales tax in total 9% in Sumpter. Get info from Flordia Department of Revenue 800-352-3671 Untitled 1. All the tax is paid here once a month. Good luck.
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