There is licensing and tax payments that need to be considered for vacation homeowners.  There are local and state licenses that need to be obtained annually and Tourist and Development (TDT) taxes that need to be paid each month.  Eagle Management has a very knowledgeable accounts team that stays up to date with current state and local policies to make sure that our short-term rental owners remain compliant in these areas.

The licenses required are Local Business Tax, which is based on the county or city of the vacation home.  The state license is required by the Department of Business and Professional Regulations (DBPR).  These require annual renewal.  Eagle Management offers owners the opportunity to enroll under our collective state license, which saves almost half of the cost.  Owners need not worry about this task as our accounts team will apply for these licenses and automatically renews any home under management. We like to make it worry free!

Taxes are collected from guests upon booking and kept separate from other funds.  Eagle Management has operational software that makes tracking of these taxes simple.  Each month owner’s revenue is calculated, and the appropriate taxes are submitted to the proper authority.  Eagle Management is proud to have the Polk County Seal of Compliance for many years.  This means that our company has followed proper procedures and submitted taxes on time – Margarita, our Accounts Manager is known on a first name basis in the Tax Collector’s Office and is invited to round table conversations about the collection process.

Property Licensure and Tax Compliancy

Eagle Management also provides the necessary annual tax forms so owners can provide a simple statement to their accountant.  US residents with a Social Security Number (SSN) will receive a 1099 form and those without an SSN will receive a 1042 form.  These forms, along with owner statements can be downloaded with ease right from your owner portal.  Owner that are not US Residence must provide an ITIN number or request one. Your accountant should be able to help them obtaining if one needed.

Owner Booking Revenue must be reported to our office so we can pay the tax on behalf of owner and keep the property owner in compliance.