Thinking About Making Some “Eclipse Cash?”
Before you decide to rent your house, property, parking spaces, or try to sell something to commemorate the eclipse, you better get your Idaho State tax permit!
The solar eclipse has a lot of people thinking "hey, I can make some money on this deal!" People are listing their homes for rent online and posting road side signs on their property. Rooms for rent, campsites for rent, houses for rent and other "eclipse-related" items.
Be advised! The Idaho State Tax Commission is watching! You need to get a state tax permit and you need to collect sales and lodging taxes that may apply, even if it's for only one day.
If this is the first time you've thought about doing something like renting out your home, a room, selling food or souvenirs you may not have been aware of this law, but you do need to collect and remit Idaho sales tax - via a permit. Some areas may even have a local sales tax (resort cities and auditorium districts).
The Idaho State Tax Commission has some examples for you:
- Selling food, T-shirts, souvenirs, etc.: You must collect Idaho sales tax.
- Renting out your home, vacation home, cabin, trailer, a room in your home, etc., for temporary lodging: You’ll need to collect Idaho sales tax, the travel and convention (lodging) tax, and any other local sales tax that applies, including the Greater Boise Auditorium District tax (for rentals within the district).
- Renting out your yard, driveway, parking lot, or other space for overnight camping: You’ll need to collect Idaho sales tax, the travel and convention (lodging) tax, and any other local sales tax that may apply.
How to register to collect and remit taxes
You can apply online through tax.idaho.gov to get permits for the Idaho sales tax, travel and convention tax, and Greater Boise Auditorium District tax:
- If you’re only selling or renting out during a one-time event or a few times a year, you can use one application to easily apply for temporary permits.
- If you have ongoing sales or rentals, you’ll need to register for regular permits.
To register to collect other local sales taxes, contact the local taxing authority.
Visit tax.idaho.gov/eclipse for more information and to download an eclipse flyer, or call the Tax Commission at (208) 334-7660 in the Boise area or toll-free at (800) 972-7660.
Source: Idaho State Tax Commission