News & Analysis as of

Tax Reform Florida

Bilzin Sumberg

HB 7031 – Florida Eliminates State Sales Tax on Commercial Rent

Bilzin Sumberg on

HB 7031 was adopted by the Florida legislature and signed into law by Governor DeSantis on June 30, 2025. Among other modifications to Florida tax law, the Bill repeals Section 212.031, Florida Statutes, which provided for...more

Burr & Forman

Important Update: Florida Sales Tax Reduction on Commercial Leases

Burr & Forman on

As of June 1, 2024, the State of Florida reduced the state sales tax rate on commercial real property lease payments from 4.5% to 2%. All commercial leases with an occupancy period that started on or after June 1, 2024 will...more

DarrowEverett LLP

What Florida Sales Tax Cut Means for Florida Commercial Tenants

DarrowEverett LLP on

Broadly speaking, according to the Florida Department of Revenue, each Florida sale, amusement park admission, storage unit and rental is taxable (unless it falls under an exemption, such as nonprofits). More specifically,...more

Shumaker, Loop & Kendrick, LLP

Client Alert: Post-Legislative Session Report

On Friday, Florida legislators officially concluded the 2024 Regular Legislative Session. Prior to the symbolic drop of the hanky to signify the end of this year’s session, lawmakers were able to pass a balanced state budget...more

Shumaker, Loop & Kendrick, LLP

Governor Ron DeSantis Delivers State of the State Address

This morning, Governor Ron DeSantis addressed a joint session of the Florida Legislature to present the State of the State Address to kick off the 2024 Regular Legislative Session in Tallahassee. Legislators also heard...more

Shumaker, Loop & Kendrick, LLP

Client Alert: Focus on Florida’s Future: Governor Ron DeSantis Releases Budget Recommendations for FY 2024-2025

This week, Florida Governor Ron DeSantis released his proposed budget for the 2024-2025 Fiscal Year (FY). The $114.4 billion spending plan, titled "Focus on Florida's Future," centers on allocations to Education, Public...more

McDermott Will & Schulte

Weekly IRS Roundup August 21 – September 1, 2023

Check out our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for August 21, 2023 – September 1, 2023....more

Shumaker, Loop & Kendrick, LLP

Florida FY 23-24 Budget Approved by Governor Ron DeSantis

Yesterday, Governor Ron DeSantis signed Florida’s budget for Fiscal Year 2023-2024 into law. The state spending plan, dubbed the Framework for Freedom Budget, allocates a total of $116.5 billion across Florida agencies to...more

Lowndes

New Law Reduces Florida’s Sales Tax Rate on Commercial Rent

Lowndes on

Effective December 1, 2023, the State of Florida’s sales tax rate on commercial real property lease payments (including base rent and additional rent) will be reduced from 5.5% to 4.5% for payments received for occupancy...more

McDermott Will & Schulte

Weekly IRS Roundup May 1 – May 5, 2023

Check out our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of May 1, 2023 – May 5, 2023...more

Bilzin Sumberg

Live Local Act Provides Sales Tax Refund as Additional Incentive for Affordable Housing Development

Bilzin Sumberg on

The Live Local Act (S.B. 102) incorporated relief from sales tax for building materials used in eligible residential units that have a recorded FHFC agreement. What Residential Units Qualify: An eligible residential unit...more

Shumaker, Loop & Kendrick, LLP

Client Alert: Florida’s Framework for Freedom: Governor Ron DeSantis Releases Budget Recommendations for FY 2023-2024

​​​​​​​Today, Florida Governor Ron DeSantis released his budget recommendations for Fiscal Year (FY) 2023-2024. Dubbed the “Framework for Freedom,” the $114.8 billion spending plan reinforces the Governor’s “commitment to...more

Foley & Lardner LLP

The Florida Legislature: A Look Ahead at the 2023 Legislative Session

Foley & Lardner LLP on

Complete with traditional pomp and circumstance, the Florida Legislature convened Tuesday for the purposes of organizational session. The 160 member body was sworn-in before friends, family, state dignitaries and staff. This...more

Shumaker, Loop & Kendrick, LLP

Shumaker Advisors 2022 Florida Legislative Session Weekly Newsletter, Week Eight

HIGHLIGHTS - Only one week remains in this year’s Legislative Session in Florida. A focal point of the penultimate week of session was on budget negotiations, with joint conference committees holding their first meetings...more

Shumaker, Loop & Kendrick, LLP

Florida Freedom Week Tax Holiday

July 1st, begins Freedom Week, the second of two new tax holidays put into place during Florida’s 2021 Legislative Session. Floridians were able receive tax breaks on disaster preparedness items during the month of May, and...more

Shumaker, Loop & Kendrick, LLP

Client Alert: Florida Tax Holiday

Floridians will now have access to new and extended tax breaks under the recently approved HB 7061. The bill, which is designed to make tax improvements for both families and businesses, was signed into law by Governor...more

Lowndes

New Florida Law Expected to Significantly Reduce Florida’s Commercial Lease Sales Tax Rate

Lowndes on

On April 19, 2021, Florida Governor Ron DeSantis signed into law Senate Bill 50 (SB 50), which amends portions of Chapter 212, Florida Statutes. SB 50 is slated to significantly reduce Florida’s commercial leasing sales tax...more

Shumaker, Loop & Kendrick, LLP

2021 Florida Post-Legislative Session Report

Hot Topics - Legislative priorities for 2021 from the Governor and leadership ranged from controversial political moves related to protests, voting, and transgender athletes, to environmental protection and mental health....more

Lowndes

Hillsborough County Commercial Lease Sales Tax Rate Reduced by Recent Florida Supreme Court Decision

Lowndes on

A recent Florida Supreme Court decision found that the Hillsborough County 1% transportation sales surtax is unconstitutional. As a result, the decision reduced the sales tax rate on commercial lease payments in Hillsborough...more

Akerman LLP - SALT Insights

Word Play: The Curious Case of Economic Nexus Legislation in Florida

In June 2018, the United States Supreme Court in Wayfair held that the physical presence of the taxpayer was no longer a prerequisite for imposition of a sales tax. In so doing, the Court blessed the concept of “economic...more

Bilzin Sumberg

Moving to the Sunshine State: Change of Domicile Planning Considerations

Bilzin Sumberg on

Florida has long been known as a hot-spot for retirees and snowbirds to move for its sunny weather and beautiful beaches. In recent years, however, since the "SALT Deduction Cap" established by the 2017 Tax Cuts and Jobs Act...more

Bilzin Sumberg

Decrease in Florida Sales Tax on Commercial Rent

Bilzin Sumberg on

Effective as of January 1, 2020, the Florida state sales tax rate applicable to the lease of commercial real property has decreased from 5.7% to 5.5%.  Therefore, the state will levy a 5.5% sales tax on all rent collected...more

Foodman CPAs & Advisors

Taxes in Florida

The Sunshine State is one of the lowest tax burden states in the US. Florida has no state individual income tax. At the state level, there is NO tax on social security benefits, retirement income, IRAs, 401(k) accounts,...more

23 Results
 / 
View per page
Page: of 1

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:
*By using the service, you signify your acceptance of JD Supra's Privacy Policy.
- hide
- hide