Sales Tax Breaks Ahead

Florida lawmakers recently completed and passed HB 7109, the highly anticipated 2017 sales tax relief package. The bill reduces commercial real estate rental sales tax and also includes a sales tax holiday for shoppers, including a back to school tax holiday along with the elimination of sales taxes on feminine hygiene products and hurricane supplies. A summary of the changes are as follows:

• Commercial real estate rental sales tax reduction by 0.2% from 6 percent to 5.8%.
• Permanent sales tax exemption for essential feminine hygiene products. HB 7109 makes clear that feminine hygiene products are no longer considered luxury items but rather a necessity for women’s overall health.
• Three-day disaster preparedness sales tax holiday from Jun 2-4, 2017, for disaster preparedness supplies.
• Three-day back-to-school sales tax holiday from August 4-6th, 2017 that includes clothing and footwear costing $60 or less, school supplies costing $15 or less, and personal computer or related accessories costing $750 or less.

HB 7109 was a popular measure in the recently completed state legislative session, having been passed in the House and Senate by overwhelming majorities.

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