What Does the Eclipse Have to do with Taxes!SFS Tax & Accounting
Eclipse Day is here!
We are in Nashville, and they say it could feel like 2 million people for a few hours during the eclipse. We are staying away from downtown and viewing it from the Hilton Garden Inn patio before heading back to Florida. Florida Today shares information about how much of the eclipse Floridians will see.
TaxTip for this event:
If you are selling or renting anything out during the event, there are a couple of important things you should be aware of:
- Those living in the area of totality who are renting out property such as your home, vacation home, cabin, trailer, a room in your home, etc. for temporary lodging: You’ll need to collect the state sales tax, the lodging tax, and any other local sales taxes that apply to your state.
- Renting out your yard, driveway, parking lot, or other space for overnight camping: You’ll need to collect the state sales tax, the lodging tax, and any other local sales taxes that apply to your state.
- Individuals that are looking to cash in on selling food, T-shirts, hats and other souvenirs must collect and remit taxes even if you are selling the merchandise for a few days or just one day.
- Selling food, T-shirts, souvenirs, etc.