Property OwnershipProperty_taxHARD
SC's accommodation tax on short-term rentals:
Correct Answer
B) Requires collection of state and local accommodation taxes on rentals of 90 days or less, affecting investment property income calculations
SC imposes state (7%) and local accommodation taxes on short-term rentals (90 days or less). This affects net income projections for investment and resort properties.
Answer Options
A
Does not existB
Requires collection of state and local accommodation taxes on rentals of 90 days or less, affecting investment property income calculationsC
Only for hotelsD
Federal tax onlyWhy This Is the Correct Answer
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Related Topics & Key Terms
Related Topics:
Short-term rental regulationsInvestment property income analysisSC Department of RevenueLocal accommodation taxesVacation rental management1031 exchange for investment properties
Key Terms:
accommodation taxshort-term rental90 days7% state taxinvestment propertyvacation rental
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