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Florida eliminates business rent tax on commercial leases
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The governor of Florida, Ron DeSantis, signed a new law that offers extensive tax cuts aimed at helping families and small businesses in the state, just as the hurricane season begins. The bill permanently eliminates taxes on essential emergency products such as batteries, flashlights, tarpaulins and portable generators. The goal is to facilitate preparedness for frequent natural disasters in the region. In addition, as of October 1, the 2% tax …
Florida eliminates business rent tax on commercial leases
Florida businesses pay a 2% sales tax on their rent or lease for commercial spaces, whether in a downtown office building or a suburban strip mall. But not after Oct. 1. Gov. Ron DeSantis signed House Bill 7031 on June 30, officially ending Florida’s business rent tax. In place since 1969, the tax gradually dwindled from 6% to 2% after 2017. Florida is the only state that charges a statewide sales tax on commercial leases, though some cities acr…
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