What is a “transient rental”
Do I have to pay a tax to rent my unit???
If you rent your unit, you probably are in the business of ‘transient rentals”. The simple answer is a resounding YES!!
Basically if you own property on Panama City Beach and you rent it for 6 months or less the rental income is subject to 6.5% Florida State Sales tax, 5% Bay County Tourist Development Tax and possibly a 1% Panama City Beach license fee.
This applies whether you do it one time or all the time, only in the winter or throughout the year.
Noncompliance with the law will result in enforcement action that will include penalties and interest, voluntary disclosure will minimize interest and possibly waive related penalties.
If you need to register or if you have any questions please contact the following:
Florida Dept of Revenue (6.5%) 850-872-4165
Linda Brooks or dor
Jerry Hicks
Bay County Tourist Development Tax 850-747-5226
Ginger Cone or bay
Charlene Honnen, CPA tdc@
Panama City Beach City Hall 850-233-5100
Susan Griffin bus_online/htm
Please be aware that rentals are checked throughout the year. If you rent through a management company they probably collect and remit the taxes on your behalf, however it is ultimately your responsibility therefore it doesn’t hurt to check.
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