City knoxville hotel occupancy tax form 2025

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  1. Click ‘Get Form’ to open the city Knoxville hotel occupancy tax form in the editor.
  2. Begin by entering your Account Number and Business Name at the top of the form. Ensure that your contact information, including Phone Number and Address, is accurate.
  3. For the Reporting Period, specify the calendar month for which you are reporting. This is crucial for accurate tax calculation.
  4. In the Computation of Tax section, fill in Line 1 with the Gross Consideration for Occupancy of Rooms. On Line 2, enter any deductions for Non-Transient Residents.
  5. Calculate Line 3 by subtracting Line 2 from Line 1 to find your Taxable Rents. Then, on Line 4, compute the Tax Due by taking 3% of Line 3.
  6. On Line 5, apply a 2% Accounting Fee Deduction based on Line 4. Finally, complete Lines 6 and 7 to determine any interest or penalties due and total tax owed.
  7. Sign and date the form at the bottom to certify its accuracy before submission.

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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.
Hotels and motels Whether its a budget motel or a luxury hotel, you can deduct the cost of your stay if the trip is primarily for business purposes. If your trip includes personal activities, youll need to divide the expenses and only deduct the portion that applies to business.
Deductibility on income taxes Generally speaking, hotel taxes that you pay, such as the transient occupancy tax, are not deductible on your income tax return. The tax code allows deductions for only four kinds of taxes: income taxes paid to state, local or foreign governments. real estate taxes.
As of July 1, 2021, every municipality in Tennessee is authorized to levy hotel/ motel or occupancy tax by ordinance. However, pursuant to T.C.A. 67-4-1402, hotel/motel tax levied by a municipality in ance with this new authorization must not exceed four percent (4%) of the amount charged by the hotel operator.
You may need to fill out a lodging tax exemption form (depending on the state/territory) and present it at check-in. Tax Exempt Forms are available at all DoD Preferred and FedRooms hotels, however, you should check the requirements before you leave on your trip as some forms require a supervisors signature.
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People also ask

Generally speaking, hotel taxes are not deductible on your income tax return but may be deductible if youre renting out your property.
Knox County also has a tax for those who book overnight accommodations. The rate is 5% of the cost of the room, and also is used for tourism expenditures. If someone books a hotel in the city limits, they must pay the city tax and the county tax totaling 8%.
The revenue generated from hotel taxes is often used to fund local tourism, infrastructure and community projects.

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