Form Return Of Short-Term Rental Property - City Of Falls Church (Page 2 of 2) in pdf

Form Return Of Short-Term Rental Property - City Of Falls Church Page 2

INSTRUCTIONS

1. Use this form to report short-term rental property (also know as daily rental property) owned by you. You must report all

other business tangible personal property on the RETURN OF TANGIBLE PERSONAL PROPERTY & MACHINERY &

TOOLS.

2. DAILY RENTAL TAX CALCULATION:

A. Enter the total gross rental receipts on line (1). Include all charges, penalties and interest.

B. Enter the total gross rental receipts from items each rented for a period of 92 consecutive

days or less on line (2).

C. Exemptions must be itemized. Enter any claimed exemptions as follows:

Line (3a): Rentals by the Commonwealth of Virginia, any political subdivision of the

Commonwealth of Virginia, or the United States;

Line (3b): Rentals exempt from the Virginia Sales and Use Tax pursuant to Chapter 6 of

Title 58.1 of the Code of Virginia.

Line (3c): Rentals of durable medical equipment as defined by subdivision 22 of section

58-1-608 of the Code of Virginia.

Add lines (3a), (3b), and (3c). This is the total for claimed exemptions. All exemptions

Listed must be fully documented or they will be disallowed. Enter this amount on line (3d).

D. Subtract line (3d) from line (2). Enter this amount on line (4).

E. Multiply line (4) by one percent (1%). This is the rental tax. Enter this amount on line (5).

NOTE:

If your short-term rental is less than eighty percent (80%) of the gross rental receipts in any year, you would not qualify as

short-term rental. Virginia code 58.1-3510( C )

REMIT TAX ON TIME TO AVOID PENALTY & INTEREST

Form Return Of Short-Term Rental Property - City Of Falls Church Page 2