Q. In regards to paying the fee at the end of the month, how is the TPID fee calculated?
A. The TPID fee of 2% is added to the base amount of revenues for the month. Then hotel taxes are calculated on that new base amount.
So if the hotel had revenues of $10,000 for the month, they would take $10,000 x 2% to come up with $200. They add this to $10,000 to make a new base of $10,200.
From there, they calculate the hotel taxes of 6% state, 7% City of Waco, and 2% county tax, as follows:
$10,200 x 6% = $612 State of Texas hotel tax
$10,200 x 7% = $714 City of Waco hotel tax
$10,200 x 2% = $204 County hotel tax
Total fees & taxes: $200 + $612 + 714 + $204 = $1,730
Please download the form below to see how the fee is calculated.
Q. Can the TPID fee be paid quarterly instead of monthly?
A. The TPID fee can only be paid monthly, not quarterly.