§237D-2 Imposition and rates.
(a) There is levied and shall be assessed and collected each month a tax of:(1) Five per cent for the period beginning on January 1, 1987, to June 30, 1994;
(2) Six per cent for the period beginning July 1, 1994, to December 31, 1998; and
(3) 7.25 per cent for the period beginning on January 1, 1999, and thereafter;
on the gross rental or gross rental proceeds derived from furnishing transient accommodations.
(b) Every operator shall pay to the State the tax imposed by subsection (a) as provided in this chapter.
(c) There is levied and shall be assessed and collected each month on the occupant of a resort time share vacation unit, a transient accommodations tax of 7.25 per cent on the fair market rental value.
(d) Every plan manager shall be liable for and pay to the State the transient accommodations tax imposed by subsection (c) as provided in this chapter. Every resort time share vacation plan shall be represented by a plan manager who shall be subject to this chapter. [L 1986, c 340, pt of §1; am L 1988, c 241, §3; am L Sp 1993, c 7, §18; am L 1998, c 156, §16]