Florida taxpayers will enjoy a holiday tax break for July 1-7. This relief will apply to all purchases made during the Freedom Week sales tax holiday, including movies, live events, and performing arts, state parks, and fitness facilities. It will also extend to purchases of sports equipment, including bicycles. During the holiday, Florida taxpayers will generate an estimated $54.7 million in tax revenues. More details on this special relief are available on the Florida Department of Revenue’s website.Miami tax relief company
New taxes in Florida mean new breaks for homeowners. This year, lawmakers approved a $196 million tax break package, which includes a third weeklong tax break. It also adds new tax credits for charitable donations, hiring interns, and living independently. These new laws have been endorsed by the House Ways & Means Committee and were unanimously passed by the Senate. The new legislation is expected to go to Governor Ron DeSantis.
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The state’s economic forecast says that homeowners will see a tax break of $2.8 billion from the new tax law. The state is also proposing to double the ad valorem tax exemption for affordable housing properties from 50% to 100%. Additionally, the proposed bill will increase the cap on contaminated-site cleanup from $10 million to $27.5 million, which is expected to spur significant increases in company tax credits. The bill has several other benefits for Florida residents.
