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Airbnb claims state leaving $90M on the table by not taxing users
Dana Rubenstein is reporting at Politico New York New York state is going without $90 million a year in revenue because it will not tax Airbnb users the same way it does hotels, according to an analysis by the home-rental platform. By Airbnb’s count, 42,000 New York residents rent out homes via the online service. Four of the state's 62 counties — Tompkins, St. Lawrence, Sullivan and Delaware — have begun collecting hotel occupancy taxes for Airbnb rentals on the local level. While the company claims that potential tax revenue from Airbnb users between July 1 last year to June 30 have totaled $90 million, opponents argue that sum would not make up for the loss of taxes normally generated by the traditional hotel industry. Read the full story at Politico New York.