Governor proposes $100 million tax cut on business rents

on Wednesday, January 29, 2014 in Blog, Business Consulting by

Tax Cut on Business Rents

Taking the final bite out of his commitment to eliminate $500 million in taxes and fees for the upcoming legislative session, Gov.Rick ScottĀ announced Tuesday a proposal to cut sales taxes on commercial rents.The savings to Florida businesses: $104 million, according to a statement issued by Scott’s office.

The governor’s budget reduces the tax on commercial leases by one half of a percentage point from its current 6 percent.

The proposal is the last plank in a plan that includes the governor’s previously announced call for a $400 million reduction in car registration fees.

“The economic impact of a $100 million reduction in this tax would provide over $500 million in value to Floridians in terms of jobs and economic activity,” said Danny Smith, chairman of the Florida Realtors Commercial Alliance Committee, in a statement.


Eric Snyder Staff Writer-Tampa Bay Business Journal


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