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Click ‘Get Form’ to open the 722 vi 2016 form in the editor.
Begin by entering your Employer Identification Number (EIN) or Social Security Number (SSN) in the designated fields.
Fill in the location of your rooms and specify whether you are reporting for a hotel or timeshare.
For each month, input the amount of rentals and room nights in sections A through D. Ensure accuracy as these figures will determine your total rental amount.
Calculate the Total Amount of Rental by adding lines A, B, C, and D. Enter this figure on line E.
Determine the Tax Due by multiplying line E by the tax rate of 12.5%. Enter this on line F.
If applicable, calculate any penalties for late payment and enter them on line G, followed by interest on line H.
Finally, sum lines F, G, and H to find the Total Amount Due on line I. This is the amount you need to remit with your return.
Start filling out your 722 vi 2016 form online for free today!
US VAT: In the US there is no federal sales tax. US sales tax is instead set by state and local authorities, and most charge both a sales tax (2.9%7.25%) and some form of bed tax, occupancy tax, lodging tax or hotel sales tax (0%20%).
Do you have to pay hotel tax in the USA?
Lodging taxes are levied by your state or local government and can go by different names, including sales tax, transient tax, hotel tax, room tax, occupation tax, and many more. Guests are required to pay these taxes on top of the cost of their accommodations.
Where do I mail my US Islands tax return?
File a signed copy of your tax return (with all attachments, forms, and schedules, including Form 8689) with the Islands Bureau of Internal Revenue, 6115 Estate Smith Bay, Suite 225, St. Thomas, VI 00802.
Who pays hotel tax?
Although the name transient occupancy tax is specific to California, similar lodging taxes are in effect across the United States. You pay these taxes when you rent a room, bed or other space. Its the lodging operators job to collect the tax and pay it to the government.
What states have no hotel tax?
Two statesAlaska and Californiahave no statewide taxes that apply to accommodations. These rules only apply to statewide taxes. Individual municipalities in any of these states may also levy taxes on accommodations, and their rules for federal employee exemptions may be different than the states.
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(1) Every guest of a hotel as defined above shall pay to the Government of the United States Islands a tax to be collected and remitted to the Government by the hotelkeeper or innkeeper at the rate of 12.5 percent of the gross room rate or rental.
Do you have to pay income tax in the US Islands?
INDIVIDUAL INCOME TAX Individuals who are bona fide residents of the Islands file Form 1040 with the Islands and pay tax on their worldwide income to the Islands.
Do you pay tourist tax in the USA?
Tourist tax has long been the norm in several countries in Europe, and in the US. But its not imposed in every country. Below, we explore some of our most popular destinations, and their associated tourist taxes.
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722 V.I. Hotel Room Tax Return (12.5%). Related Forms. revised on: 2017-05-22 RA-AUDIT Audit Enforcement Branch Request For Assistance Form. Related
12 FDA is developing a form to replace the cover letter used for original and subsequent submissions. The form should be available by the time this guidance
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