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Contract to be written allowing CVB to provide services to Tourism Authority as its exclusive agent New CVB By-Laws Mirrors the current legislation and Tourism Authority By-Laws Month) 6% Occu anc Tax Collections Monthl 6% Occu anc Tax Collections Coun will collect the occu anc tax from the CVB will not collect the occu anc tax from Coun coun accomodations as written in the le isiation accomodations Administration Fee Administration Fee Coun will deduct a % of the collections to a for CVB will receive the tax collections minus % retained b the ersonnel time and resources ex ended to collect Coun to cover time and resources ex ended to collect the tax on a month) basis. Dates each month the tax on a month) basis. Dates each month Pam to determine hours/labor needed to com lete each month. Disbursement of Tax Collections Disbursement of Tax Collections Count will de osit tax collections into-the CVB bank CVB will receive tax collections into a desi Hated account and rovide CVB with a tax cGliection bank account and dis erne funds accordin to Board's direction re ort month) . Tax Exem dons Tax Exem lions Coun will not file for tax exem lions for CVB CVB wilt file for tax exem lions for urchases Grants Grants CVB will be ell ible for not-for- rofit rants Social Securit Soclal Securlt Count contributes 6.2% of Sala CVB contributes 6.2% of Sala Medlcare Medlcare Count contributes 1.45% of sale CVB contributes 1.45% of sa/a Unem to ment Tax Unem to ment Tax Reimbursement will not be available to CVB CVB will a unem to ment tax Audit -Potter 8 Com an Audit -Potter &Com an Board of Commissioners will be resented with Yearl audit erformed b CVB's CPA firm and resented annual audit b CVB's CPA firm annual) to the Cabarrus Coun Board of Commisioners annual) b October 31, same as Coun Pam su ested Potter for ease of transition this ear) Coun ma be called u on to assist CVB with an accomodations audit. Federal and State Income Tax 8 Forms Federal and State Income Tax & Forms Coun will not submit federal /state tax returns CVB will submit federal and state tax returns Coun will not be res onsible for overnment forms W-9, I-9, NC4, W-4 Officers, Vehicle and Liabilit Insurance Count will remain the same and CVB.will Officers, Vehicle and Llabillt Insurance Current) in lace CVB Officers and Directors insurance continue to a for its own insurance needs General Pro e & Liabilit Insurance and vehicle insurance T' I''