Florida Legislature Passes Florida Chamber Tax Cut Priorities

Targeted Tax Reform Package Will Help Lower Cost of Living and Doing Business

TALLAHASSEE, FL. (June 15 , 2015) – The Florida Chamber applauds the Florida Legislature for their commitment to lowering the cost of living and cost of doing business in Florida by passing a targeted tax reform package.

“Lawmakers took a positive step today by passing several of the Florida Chamber’s targeted tax reform priorities,” said David Hart, Executive Vice President of the Florida Chamber of Commerce. “We commend the House and Senate for their work on negotiating a meaningful tax cut package and we look forward to Governor Rick Scott signing it into law.”

Driving a fair and equitable tax system is key to attracting and retaining businesses in Florida. Limiting burdensome taxes by enacting smart and targeted tax reforms help place money back into the pockets of Florida’s families.

Targeted Tax Reforms Cuts Include:

  • A reduction in the communications services tax (CST),
  • An increase in the research and development tax credit,
  • Extended bonuses in enterprise zones for two years for companies currently receiving bonuses, and
  • Create a 10 day Back-to-School Sales Tax Holiday.

The bill now heads to Governor Rick Scott ‘s desk for signature.

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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 critical to secure Florida’s future. The Florida Chamber works closely with its Political Operations and the Florida Chamber Foundation. Visit www.FloridaChamber.com for more information.

Senate Appropriations Committee Passes Florida Chamber Tax Cut Priorities

Targeted Tax Reform Package Heads to Full Senate- Will Help Lower Cost of Living and Doing Business

The Florida Chamber applauds the Florida Senate Appropriations Committee for their commitment to lowering the cost of living and cost of doing business in Florida by passing a targeted tax reform package today.

“The Florida Senate Appropriations Committee took a positive step today by passing several of the Florida Chamber’s targeted tax reform priorities,” said David Hart, Executive Vice President of the Florida Chamber of Commerce. “We commend the House and Senate for their work on negotiating a meaningful tax cut package and we look forward to seeing it become law.”

Driving a fair and equitable tax system is key to attracting and retaining businesses in Florida. Limiting burdensome taxes by enacting smart and targeted tax reforms help place money back into the pockets of Florida’s families.

The Targeted Tax Reforms in HB 33A Would:

  • Reduce communications services tax by 1.73 percent,
  • Increase the research and development tax credit from $9 million to $23 million for 2016,
  • Extend bonuses in enterprise zones for two years for companies currently receiving bonuses, and
  • Create a 10 day Back-to-School Sales Tax Holiday.

What’s Next?

The bill will now go to the Senate Floor and return to the Florida House for amendments or passage.

Share Your Story:

How will these targeted tax cuts help your business grow? Let us know by emailing cjohnson@flchamber.com.