NC H240

Town of Four Oaks Board of Commissioners may levy a room occupancy tax of up to 2% on gross receipts from rental accommodations subject to state sales tax, in addition to existing state and local sales taxes.

Tax shall be levied, administered, collected, and repealed according to G.S. 160A-215, with applicable penalties for non-compliance.

Net proceeds remitted quarterly to Johnston County Tourism Authority, which must use at least two-thirds to promote travel and tourism in Four Oaks and remainder for tourism-related expenditures within the town only.

Administration costs limited to 3% of the first $500,000 of annual gross proceeds and 1% of remaining gross proceeds, as determined by the finance officer.

Amends G.S. 160A-215(g) to add Four Oaks to the list of municipalities authorized to levy occupancy taxes; effective upon passage.