Florida Chamber Applauds Signing of Tax Relief Bill

Florida Chamber of Commerce Applauds Governor Scott for Signing Bill Lowering Taxes on Job Creators and Families; Targeted Tax Reform Bill Will Reduce Florida-Only Business Rent Tax & Provide Sales Tax Relief for Families

The Florida Chamber of Commerce today applauds Florida Governor Rick Scott for lowering taxes on job creators and families by signing HB 7109, sponsored by Representative Jim Boyd (R-Bradenton) and Senator Kelli Stargel (R-Lakeland), into law. This Florida Chamber-backed bill takes a major step toward addressing much-needed targeted tax reforms, including a reduction of the Florida-only business rent tax – saving job creators approximately $61 million, and a further increase in the oversubscribed R&D tax credit for innovators.

Florida Governor Rick Scott signs HB 7109 into law in Boca Raton, FL

 

“The signing of this year’s tax package marks the first step in what we hope will be the eventual complete elimination of the business rent tax,” said FRANK WALKER, Vice President of Government Affairs for the Florida Chamber of Commerce. “With his signature today, Governor Rick Scott once again demonstrated his commitment to reducing the tax burden on Florida families and local businesses.

This Targeted Tax Reform Bill Will:

  • Reduce the cost to lease business space, allowing businesses to reinvest the savings and hire additional employees, provide more employee benefits or strengthen capital,
  • Encourages research and development (R&D) in Florida, spurring innovation, growth and high-wage jobs, and
  • Provides back-to-school and hurricane preparedness sales tax holidays for Florida families.

The Florida Chamber and its Business Rent Tax Coalition have long-encouraged lawmakers to reduce, and eventually phase out, the Florida-only business rent tax and to continue to invest in innovation via the research and development tax credit.

Get Involved:

  • Learn more about the Florida Chamber’s efforts to support targeted tax reform by clicking here.
  • Learn more about the Business Rent Tax Coalition’s fight to reduce the Florida-only business rent tax by clicking here.

Florida Chamber of Commerce Applauds Florida House for Passing Targeted Tax Reform Tax Reform Package

Tallahassee, Fla. (April 26, 2017) – The Florida Chamber of Commerce today applauds the Florida House of Representatives for taking a major step toward addressing much-needed targeted tax reforms by passing HB 7109, sponsored by the House Ways and Means Committee and Representative Jim Boyd (R-Bradenton).

“The reduction of the Florida-only business rent tax, along with a greater investment on research and development and sales tax holidays will provide meaningful relief to Florida businesses and families,” said CAROLYN JOHNSON, Director of Business, Economic Development and Innovation Policy for the Florida Chamber of Commerce. “The Florida Chamber commends Chairman Boyd and House leadership for their effort and looks forward to continuing the conversation in the Senate.”

 

This Florida Chamber-Backed Bill:

  • Reduces the cost to lease business space, allowing businesses to reinvest money saved in additional employees, employee benefits or in additional capital,
  • Encourages research and development (R&D) in Florida, spurring innovation, growth and high-wage jobs, and
  • Provides tax relief for Florida families and makes Florida more competitive.

The Florida Chamber supports a competitive and equitable tax system. Florida is the only state in the country that charges the business rent tax, putting Florida at a competitive disadvantage to other states, especially neighboring states, when attracting new businesses.  HB 7109 reduces the business rent tax by 1.5 percent for two years, and permanently reduces the tax by 0.5 percent.  Additionally, the bill increases the amount of tax credits available for qualified research and development by $11 million.  This will support increased innovation and high wage jobs in our state.  Finally, the bill provides savings for Florida families by offering sales tax holidays for school supplies and disaster preparedness.

HB 7109 now travels to the Florida Senate for legislative action. The Florida Chamber looks forward to working with the members of the Senate to enact targeted tax reform legislation that supports jobs for Florida’s families and strengthens our state’s economic competitiveness.

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Established in 1916 as Florida’s first statewide business advocacy organization, the Florida Chamber of Commerce is the voice of business and the state’s largest federation of employers, chambers of commerce and associations aggressively representing small and large businesses from every industry and every region. The Florida Chamber works within all branches of government to affect those changes set forth in the annual Florida Business Agenda, and which are seen as crucial to secure Florida’s future. The Florida Chamber works closely with its Florida Political Operations and the Florida Chamber Foundation. Visit www.FLChamber.com for more information.