MYRTLE BEACH, S.C. – The Myrtle Beach Area Chamber of Commerce supports South Carolina’s legislative body in its passage of the state’s Fairness in Lodging Act, which now moves to Gov. Nikki Haley’s desk for her signature.
The chamber hopes this act’s passage will close an unintended tax loophole and give local governments more authority to enforce municipal and county business license and tax requirements in regards to rental properties used by tourists.
“While we are pleased that so many people own property that is rentable to tourists, both in the Myrtle Beach area and other locations across the state, we need to maintain a level playing field and ensure all property owners are abiding by the rules,” said Brad Dean, president and CEO of the Myrtle Beach Area Chamber of Commerce. “If individual property owners are not paying the required taxes, schools, local governments, public safety and the community at large lose.”
The Fairness in Lodging Act came about after instances were reported of individual property owners failing to obtain required county or municipal licenses needed for renting their property to tourists. Additionally, the owners were not paying the local accommodations tax and state sales tax.
This act gives municipalities and counties the assistance of the S.C. Department of Revenue in data sharing and enforcement of these tax laws and regulations.