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LA has collected more than $275M in taxes from Airbnb hosts in just 7 years.
The City of Los Angeles Collects Over $275 Million in Lodging Taxes
The city of Los Angeles has recently made a remarkable achievement in its efforts to boost revenue. Through a voluntary tax collection agreement with Airbnb, officials proudly announced that they have collected an impressive sum of over $275 million in lodging taxes. This incredible milestone was achieved between August 2016 and June 2023.
Transient Occupancy Tax and Online Travel Companies
Under the official name of the transient occupancy tax, online travel companies play a crucial role in collecting and remitting taxes. This tax is specifically imposed on the discounted rates offered by these companies.
Read More From Original Article Here: LA Collects Over $275M in Taxes From Airbnb Hosts in 7 Years
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