NC S261

Restores sales tax requirement on private residences rented through real estate brokers or agents for fewer than 15 days per calendar year, effective June 1, 2014.

Exempts from sales tax: private residences rented fewer than 15 days annually when NOT listed with a real estate broker/agent, accommodations rented for 90+ continuous days to the same person, and accommodations provided by schools or camps where tuition/enrollment fees are charged.

Establishes that facilitators (third-party platforms) must report sales prices to property owners/retailers and remit applicable taxes within 10 days of month-end, with facilitators liable for taxes they fail to remit.

Designates real estate brokers and rental agents as retailers liable for collecting and remitting sales tax, relieving property owners from this obligation when using an agent.

Provides safe harbor from liability for over/undercollection of sales tax between June 14, 2012 and July 1, 2014 for retailers making good-faith compliance efforts.