Timeshare Tax Exemptions Left Untouched in South Carolina House Bills

2012-03-28

Issue Brief

Last week, South Carolina’s House of Representatives introduced a series of tax bills aimed at achieving tax reform in South Carolina. The House Republicans focused on eliminating many of the current sales tax exemptions that exist in the law today. However, most notably for the timeshare industry, the tax package does not include a removal of the timeshare industry’s sales and exchange tax exemptions. ARDA and ARDA-ROC have historically fought against new taxes on the timeshare industry and timeshare owners alike. Click here to read more about how ARDA and ARDA-ROC effectively opposed recommendations on timeshare sales and exchange tax exemptions in 2010 and 2011. 

Impact

While the House GOP tax reform bills currently do not include tax increases on the timeshare industry or eliminating current tax exemptions, we will continue to monitor the South Carolina legislature as tax packages from the Governor and Senate have yet to be submitted. If the current sales tax exemptions are eliminated for the timeshare industry, the effects would not only increase the cost of developing and selling timeshare in South Carolina, but also increase taxes on all timeshare owners which would include newly imposed taxes on exchange. 

Position/Call to Action

ARDA and ARDA-ROC continue to oppose any recommendations that eliminate the current timeshare sales and exchange tax exemptions and will fight to keep them from being included in any legislative proposal in 2012. In the event these recommendations are included in a legislative proposal, we will seek the support of the timeshare development community as well as timeshare owners to help support our efforts, so please continue to check back to this site for continued updates in 2012. 

Issue Updates

The ARDA-Carolinas Committee, in partnership with ARDA-ROC, is committed to devoting all of the necessary resources to ensuring that the current tax status of timeshare industry does not change in 2012.

Resolution

 

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