Who approves accommodations tax expenditures?

State Accommodations Tax A municipality receiving more than $50,000 in revenue from the state accommodations tax must appoint an advisory committee to make recommendations for how the revenue generated from the accommodations tax should be spent. The advisory committee consists of seven members, with a majority being selected from the hospitality industry of the municipality or county receiving the revenue. At least two of the hospitality industry members must be from the lodging industry, where applicable. One member must represent the cultural organizations of the municipality receiving the revenue. The advisory committee submits written recommendations to the municipal council at least once annually regarding the expenditure of state accommodations tax proceeds. The municipal council may accept, reject or modify these recommendations. The council must submit an annual report detailing use of the state accommodations tax proceeds to the state Tourism Expenditure Review Committee. TERC is an 11-member committee that reviews the tourism related expenditures funded with state accommodations tax revenue. Local Accommodations Tax There is no requirement for an advisory committee for local accommodations tax expenditures. The municipal council is solely responsible for approving local accommodations tax expenditures unless otherwise established by the council.

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11. What is the difference between the state accommodations tax and the local accommodations tax?
12. Who approves accommodations tax expenditures?
13. Are there restrictions on the use of the accommodations tax revenue?
14. What is the Local Hospitality Tax?
15. Where do I send the taxes collected under the 2% Hospitality Tax?
16. What are the benefits of the Local Hospitality Tax?
17. What sales are subject to the Local Hospitality Tax?
18. Who is responsible for collecting and remitting the Local Hospitality Tax?
19. How will the Local Hospitality Tax be remitted to the Town of Fort Mill?
20. What if an establishment’s payment to the Town of Fort Mill is late?
21. Does the Local Hospitality Tax Act stipulate a business implementation credit for start-up costs?
22. How will the funds generated by the Hospitality Tax be allocated in future budgets?
23. How will the Town conduct audits of the Hospitality Tax?
24. Can the Town Council establish a Hospitality Tax advisory committee?
25. How do I calculate the taxes to be remitted to the Town under the 2% hospitality tax?