- Associated Press - Monday, November 16, 2015

PROVIDENCE, R.I. (AP) - Rhode Island Department of Revenue officials say the state’s controversial tax on vacation home and private residence rentals such as Airbnb has yielded far less of a return than expected during the first quarter of the fiscal year.

Tax Administrator David Sullivan tells The Providence Journal (https://bit.ly/1LicWoT ) the tax has provided between $60,000 and $100,000 in additional revenue, although state officials had initially projected between $2 million and $3 million.

The first quarter period includes collections from July, August and September. September’s return won’t appear until October’s numbers are tabulated because renters pay for the previous month’s bookings.

Sullivan says the numbers “seem low,” but he wouldn’t be surprised to see them pick up in the future.

Commerce Secretary Stefan Pryor says the new system requires some “ramp up” time.



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Information from: The Providence Journal, https://www.providencejournal.com

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