Vermont Business MagazineSince reaching its tax agreement with the State of Vermont two years ago, Airbnb has remitted more than $7.8 million in taxes on behalf of the host community across the Great Mountain State. Airbnb, which issued a press release on the revenue total today, automatically collects and remits this tax, providing a significant boost to state coffers while making the process seamless for individuals and families who share their home to make ends meet.Airbnb began collecting and remitting taxes on behalf of hostsafter signing a tax agreement with the State of Vermont.
Under Airbnb’s tax agreement, which went into effect on October 1, 2016, the company has collected and remitted Vermont’s 9% Meals and Room Tax on behalf of its host community, along with a local 1% Meals and Rooms Tax in the following municipalities: Brandon, Brattleboro, Colchester, Dover, Killington, Manchester, Middlebury, Montpelier, Rutland Town, St. Albans Town, South Burlington, Stowe, Stratton, Williston, Wilmington, Winhall, and Woodstock. This has generated approximately $7.7 million in tax revenue over the past two years.
In addition, Airbnb also collects and remits the City of Burlington’s 2% Restaurant, Hotel, Amusements and Admissions Tax. Since reaching an agreement with the City in January 2017, Airbnb has generated $142,000 in tax revenue in Burlington alone.
“Airbnb is an economic mobilizer for everyone, from families sharing their home to make ends meet, to the small businesses benefitting from more guests shopping and eating locally -- and even to the State of Vermont, which has used these millions of dollars in additional revenue to support public services statewide,” saidJosh Meltzer, head of Northeast Public Policy for Airbnb.“We are proud of the partnerships we’ve forged with Vermont, including with the City of Burlington, and hope to continue working cooperatively to ensure home sharing can continue to benefit every corner of the Great Mountain State.”
As of October 1, 2018, there are 4,500 active hosts across Vermont, who welcomed 281,500 guests over the past year. The typical Vermont host made $6,400 per year, from opening their doors approximately two days per month. 64 percent of Vermont hosts are women; 28 percent are seniors; and 84 percent share their home in areas designated as rural by the US Census. Airbnb is also growing across Vermont, with guest arrivals increasing by approximately 55 percent year over year.
Airbnb’s agreement with Vermont is just one of themore than 23,000 tax partnershipsthe company has fostered globally, generating more than half a billion dollars to support core public services.
About Airbnb
Founded in 2008, Airbnb’s mission is to create a world where people can belong through healthy travel that is local, authentic, diverse, inclusive and sustainable. Airbnb uniquely leverages technology to economically empower millions of people around the world to unlock and monetize their spaces, passions and talents to become hospitality entrepreneurs. Airbnb’s accommodation marketplace provides access to 5+ million unique places to stay in more than 81,000 cities and 191 countries. With Experiences, Airbnb offers unprecedented access to local communities and interests through 15,000 unique, handcrafted activities run by hosts across 1,000+ cities around the world. Airbnb's people-to-people platform benefits all its stakeholders, including hosts, guests, employees and the communities in which it operates.
Source:MONTPELIER, VT –Airbnb 11.14.2018