New York: New York City Mayor Signs Law Extending Hotel Room Occupancy Additional Tax Rate

The New York City Mayor Nov. 17 signed a law amending the administrative code of the city of New York to extend the rate of the additional sales and use and excise tax on the occupancy of hotel rooms. The law includes measures: 1) extending the expiration date of the 5.875 percent tax on hotel room occupancy to Dec. 1, 2027, from Dec. 1, 2023; and 2) clarifying that the rate will be reduced to 5 percent of the rent or charge per day for each room on and after Dec. 1, 2027. The law took effect Nov. 17. [ ...