New law could mean millions for Grand Strand
MYRTLE BEACH, S.C. (AP) - A new law could mean millions in revenue for the state as well as local governments along the Grand Strand, the heart of South Carolina's $18 billion tourism industry.
The Sun News of Myrtle Beach reports (http://bit.ly/1lKEWZI ) the law gives municipalities tools to go after people who rent vacation properties but don't collect accommodations or sales taxes.
The law allows governments to share information with the Department of Revenue on property owners suspected of not collecting taxes and provides warnings on property tax bills. Rental by owner websites must also post that rentals include the taxes.
Myrtle Beach Area Chamber of Commerce President Brad Dean says it's hard to gauge the impact of the law but he thinks it will be several million dollars for the Grand Strand.
Information from: The Sun News, http://www.thesunnews.com/Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.