In certain states, Boatbound collects and remits sales tax for charters on behalf of owners. Boatbound calculates the applicable sales tax and collects those taxes from the renters at the time the charter is reserved. Boatbound then takes care of remitting collected taxes to the applicable authority.
Taxes collected on charters have no effect on owner payouts. Owners will continue to get their payout minus Boatbound service fees. This doesn’t change which taxes are due, but automates the process making tax collection easier for all parties involved.
All taxes collected on behalf of owners can be found on their Payout History page. In order to download a full summary go to Accounts > Payout History > Click "Download Tax Summary" at the bottom right of the page. If you are unsure if Boatbound is collecting sales tax in your area please contact a support specialist.