By Michael Symons March 5, 2017 9:00 PM
New Jersey lawmakers are moving ahead with plans to tax and regulate home-sharing operations like Airbnb. And while the company is OK with collecting taxes, it doesn’t like the approach being taken to license or prohibit the short-term rentals it brokers.
Assemblywoman Annette Quijano, D-Union, said New Jersey’s tax laws need to be updated to keep up with technology and the home-sharing portion of the hospitality industry.
“It’s unfair to hotels and motels that have to compete with a new business model that provides essentially the same service but does not have to charge state sales tax, the state hotel/motel fee and a municipal hotel tax, which can total up to 18 percent in some areas,” Quijano said. “That’s a very significant disparity and a significant barrier to overcome.”
Last year, more than 6,000 New Jersey hosts earned over $50 million through 257,000 short-term rentals arranged through Airbnb.
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