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Room occupancy tax is six percent (6%) of the gross receipts derived from the rental of any room, lodging, or similar accommodation furnished by a hotel, motel, inn, tourist camp, or similar place within the county that is subject to sales tax imposed by the State under G.S. 105-164.4(3).
Is occupancy tax room tax?
Transient occupancy tax is paid on temporary lodging at hotels, motels, inns, hostels and similar places. Although the name transient occupancy tax is specific to California, similar lodging taxes are in effect across the United States. You pay these taxes when you rent a room, bed or other space.
What is occupancy tax in NC?
Tax Information A room occupancy tax of 3% is imposed on the gross receipts from the rental of any room, lodging or similar accommodation within the county is subject to the sales tax under North Carolina General Statute 105-164.4(a)(3). This tax does not apply to accommodations furnished by nonprofit organizations.
What is the occupancy tax in North Carolina?
State of North Carolina The State imposes both a statewide 4.75% tax and a local 2-2.75% tax, which varies by county. For detailed information, visit North Carolinas website. City and/or County Occupancy Tax: All locally imposed occupancy taxes will be collected on reservations in North Carolina.
What does occupancy mean on taxes?
Defining occupancy taxes Occupancy taxes typically apply to short-term lodging rentals, and go by many names, such as hotel tax, hotel/motel tax, lodging tax and transient room tax. The laws that impose these taxes typically define the length of stay subject to the tax.
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North Carolina imposes on rental property owners a statewide 4.75% tax and local occupancy taxes of 22.75%, which varies by county. You may be exempt from paying income taxes on rental earnings if you lease your property for fewer than 14 days annually.
What is the purpose of occupancy tax?
Is hotel occupancy tax state or local? For the most part it is a state tax, but local jurisdictions will often have the option of adding their own tax on top. The revenue generated from hotel taxes is often used to fund local tourism, infrastructure and community projects.
What is the property tax in Swain County North Carolina?
The median property tax rate in Swain County is 0.44%, which is significantly lower than both the national median of 0.99% and the North Carolina state median of 0.82%.
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SWAIN COUNTY OCCUPANCY TAX RATE INCREASE.
Feb 16, 2023 Adds a new subsection to authorize the Board to levy an additional room occupancy tax of up to 2%, only if it levies the previously authorized
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