Governor Murphy Signs Legislation Easing Taxation on Shore Rentals

08/9/2019

Bill Exempts Certain Rental Transactions from Taxes on Occupancy Charges

TRENTON – Governor Phil Murphy today signed legislation (A-4814) amending the transient accommodations law enacted last summer to provide relief for many shore renters by narrowing the scope of rentals that are subject to taxation.

————

The amendment limits the scope of transient accommodations that are considered taxable under the law (P.L.2018, c.49) passed last year to apply only to rentals of professionally managed units and rentals obtained through a transient space marketplace or travel agency, under certain circumstances. Under the amendment, rentals that a homeowner facilitates directly, such as through local newspaper ads, personal referrals, or signage, will not be subject to the tax if the homeowner is collecting the rental payment themselves.

Read Full Article: https://www.nj.gov/governor/news/news/562019/approved/20190809a.shtml?fbclid=IwAR0yJLTkoroHdruX_0eIzNWyCnlETV3flkfO6cmoW9f1WWtAnk73kumXTA0

#MyLBIBeachRental #LBI #LBIBeachRental #LongBeachIsland

Leave a Reply

Your email address will not be published. Required fields are marked *