Local taxes for rental businesses that become certified short-term rental businesses are affected in the following ways:
Certified businesses will receive a certificate which must be displayed in each qualified location.
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A rental tax from the lessee of the daily rental property at the time of the rental for periods of 92 consecutive days or less.
The term short-term rental property does not include trailers or other tangible personal property required to be licensed or registered with the department of motor vehicles, department of game and inland fisheries, or the department of aviation.
The deadline to apply for renewal certifications is January 31 of the current tax year.
No. Applications for renewal of certification must be postmarked by January 31 of the tax year for which certification is sought.
The effects of certification are reversed.
The heavy equipment tax rate is 1.5% and for all other property the rate is 1%.
Yes, you are required to obtain a Business Professional and Occupational License tax and report your gross receipts.
Short term rental tax is filed quarterly.
April 30 January - MarchJuly 31 April - JuneOctober 31 July – SeptemberJanuary 31 October - December
Yes. Chesterfield County Commissioner of the Revenue to impose a penalty of 10% of the tax assessable for the non-filing or late filing/payment of a tax return. This penalty becomes a part of the tax due.
Businesses responsible for the collection and remittance of Short-Term Rental tax should keep accurate records for the current and three prior calendar years. These records are subject to audit by the Office of the Commissioner of the Revenue.