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Is rental income taxable for the earnings tax?

April 26, 2017Earnings income rental tax taxable

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Is rental income taxable for the earnings tax?

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Rental real estate is not subject to the city earnings tax if it is owned by an individual. Rental real estate that is owned by a partnership or corporation may be subject to the earnings tax depending on the type of lease there is between the landlord and the tenant. If the lease requires the landlord to be responsible for the upkeep of the property and pays all the expenses then the rental income is taxable. If the lease requires the tenant to pay all the expenses of upkeep, then the rental income is not taxable.