Bill would Restructure Short Term Rental Taxes

What is happening? California is considering SB 555 that would create a statewide collection system for short term rental taxes directly from the short term rental platforms. SB 555 (2021 | CA)

Why is this important? This bill does not prohibit local agencies who want to continue with their own Voluntary Collection Agreements and allows cities to opt in.

How will this be important? Short term rentals appear to have faster trajectory to a new normal than hotels. Fewer people in the space = fewer germs mentality.

North Bay Business Journal | California legislation seeks to create state-run vacation rental tax revenue system