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JPFCO

Nantucket Short Term Rental Tax

Jun 11, 2019       Issue: 410

J Pepper Frazier Company
A Bi-Weekly Newsletter About Nantucket Real Estate.
 

Guide to Massachusetts Short Term Rental Tax

TAX. WHAT IS IT AND WHY DO WE HAVE IT?

December 28, 2018 The Governor signed a bill to tax and to regulate short term rental taxes in MA.
What defines Short Term Rental Tax?
Stays that are 31 days or less
For tenancy of more than 31 days, the law is not effective

How much are the taxes?

State Tax: 5.7%
Local Tax: 6%

-Optional taxes that are not adopted yet are the Cape and Islands Water protection 2.75%
Nantucket has to opt in. The Board will vote in the fall of 2019

Where does the tax apply?

Tax applies to any leases written after January 1, 2019. If the lease starts prior to July 1, 2019, there is no tax. These dates only apply to 2019.

 
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