§ 45-60-7 - Collections of seasonal rental tax.
SECTION 45-60-7
§ 45-60-7 Collections of seasonal rentaltax. – (a) When receipt of consideration is by way of property other than money, thetax shall be levied and imposed on the fair market value of such nonmonetaryconsideration.
(b) The owner of the seasonal rental shall remit the tax tothe town treasurer for deposit into the Block Island housing fund at the end ofthe rental season but no later than February 15th of the following year or atsome other time as designated by the Block Island housing board.
(c) The town treasurer shall keep records showing the amountof taxes collected, which records shall disclose the taxes collected from eachowner of such seasonal rental. The records of individual payments shall be keptconfidential, as are sales and income tax records.
(d) The collections received by the town treasurer shall bedeposited into the Block Island housing fund for use by the board as providedin this chapter.
(e) The board shall promulgate such rules and shall prescribeand publish such forms as may be necessary to effectuate the purposes of thissection including, but not limited to, procedures for collection, timing, duedates and mailing of tax notices. The board is authorized to establish auditprocedures and to assess for delinquent taxes.
(f) Any tax levied pursuant to this section shall be inaddition to any other tax imposed pursuant to chapter 44-5-1 et seq., and inaddition to all other taxes and fees and the consideration for the rental orlease.