Fla. Gov. Ron DeSantis Brings More Tax Relief for Florida's Families
Today, Governor
"
"At a time of rising inflation,
"With the signing of the state's tax package today, Floridians will enjoy some of the lowest taxes in the nation," said House Ways & Means Chairman
The tax package will help homeowners by providing a one-year exemption on taxes on residential property and flood insurance premiums. This is in addition to the
Additionally, this year's tax cut package is a continuation of our annual tax holidays. These tax holidays include:
* Two Disaster Preparedness Holidays;
o
* The Back-to-School Sales Tax Holiday;
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* The Tool Time Sales Tax Holiday;
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* The Freedom Month Sales Tax Holiday;
o
Among other savings, the tax relief package also includes a sales tax credit for businesses that employ persons with disabilities. Additionally, the bill increases the cap for the Strong Families Tax Credit Program from
For a breakdown of the tax relief package, see below:
* Insurance Premium Tax Relief
o Waives insurance premium taxes for one full year on homeowners' insurance policies and flood insurance policies.
* Sales Tax Relief
o Back to School Sales Tax Holiday
- Clothing priced
- School supplies priced
- Computers or related accessories priced
- Learning aids and puzzles priced
o Two Disaster Preparedness Sales Tax Holidays
- For specified disaster preparedness supplies for families and their pets.
o Tool Time Sales Tax Holiday
- Tools used in skilled trades--power tools, tool belts and boxes, etc.
o Freedom Month Sales Tax Holiday
- For specified recreational items.
* Child Focused Tax Credits
o Increases the cap for the Strong Families Tax Credit from
o Creates a tax credit for employers who operate or support a childcare program for their employees.
* Other Tax Relief
o Provides automatic return filing extensions for sales tax and corporate income tax in certain emergencies.
o Creates a corporate income tax credit for businesses that hire persons with disabilities.
o Limits documentary stamp tax assessments for reverse mortgages.
Visit floridarevenue.com/SalesTaxHolidays for more information on the sales tax holidays.
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Original text here: https://www.flgov.com/2024/05/07/governor-ron-desantis-brings-more-tax-relief-for-floridas-families/
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