Time-share industry may get a tax break
Time-share could make a landslide win against future resort taxes from the County. Law would demand that taxes are paid when rooms are rented like a hotel room, but would be exempt for stay-over package promotions. The law would block future lawsuits from local counties regarding this tax.
Potential new law for Time share seems to be moving quickly through Tallahassee government The American Resort Association & timeshare companies believe that it's important to have such a law in order to keep tourism flowing in the state and not increase the burden of taxes on owners.
Packages that result in a sale would not be subject to taxes would be the ultimate push of the time-share industry. But time-share units that are rented like a hotel room would be subject to taxes unless they are rented through an exhange program according to the legislation.
In such a case, taxes would not be collected on membership fees averaging $100 per year. Many of the owners are members of exchange companies representing a $44 billion industry. Disney, the #2 company has affiliation with Wyndam Vacation one of the biggest exchange companies in the industry.
Now that many counties are oppressed by large revenue deficits, they may be looking for time-share trades that they can tax like hotel rooms.
Many believe that time-share should be protected from county taxes in order to preserve the industry.
Potential new law for Time share seems to be moving quickly through Tallahassee government The American Resort Association & timeshare companies believe that it's important to have such a law in order to keep tourism flowing in the state and not increase the burden of taxes on owners.
Packages that result in a sale would not be subject to taxes would be the ultimate push of the time-share industry. But time-share units that are rented like a hotel room would be subject to taxes unless they are rented through an exhange program according to the legislation.
In such a case, taxes would not be collected on membership fees averaging $100 per year. Many of the owners are members of exchange companies representing a $44 billion industry. Disney, the #2 company has affiliation with Wyndam Vacation one of the biggest exchange companies in the industry.
Now that many counties are oppressed by large revenue deficits, they may be looking for time-share trades that they can tax like hotel rooms.
Many believe that time-share should be protected from county taxes in order to preserve the industry.
posted by michael at
8:26 AM
