Florida Chamber Supports $618 Million Tax Cut Package
The Florida Chamber of Commerce supports Governor Rick Scott’s proposed $618 million tax cut package, which includes a decrease for the Florida-only Business Rent Tax. Florida is currently the only state in the nation that charges a Business Rent Tax. That means in Florida, businesses pay a six percent tax on the space they lease, including added costs to that lease, such as property taxes, maintenance and the cost of insurance. The Florida-only Business Rent Tax significantly affects small businesses, which create 2-out-of-3 new Florida jobs.
Florida’s Business Rent Tax costs Florida businesses $1.8 billion every single year.
“Every step we take to make Florida more business-friendly means more job creators choosing to move to and reinvest in our state,” said DAVID HART, Executive Vice President, of the Florida Chamber of Commerce. “Governor Scott’s recommended $618 million tax cut package will help businesses large and small invest more in creating jobs for our families and will help ensure Florida’s economy will continue to grow well into the future. At the Florida Chamber of Commerce, we are fighting to make our state the best place for job creators and families to succeed,” Hart concluded.
Governor Scott’s proposal would reduce the tax by 25 percent in 2018 and also includes cutting Florida’s corporate income tax and once again initiating multiple sales tax holidays.