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As part of the proposed $115.6 billion state budget for fiscal year 2025-26, Governor DeSantis has outlined a plan to eliminate Florida's longstanding commercial rent sales tax.
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As part of the proposed $115.6 billion state budget for fiscal
year 2025-26, Governor DeSantis has outlined a plan to eliminate
Florida's longstanding commercial rent sales tax. This proposal
continues Florida's tax reduction strategy with a two-phase
approach.
Under the proposal, the current 2% tax rate would decrease to 1%
effective January 1, 2026, with complete elimination scheduled for
January 1, 2027. This follows the significant reduction from 4.5%
to 2% that took effect in June 2024, which was part of Florida's
2021 tax reform package.
The elimination of this tax, which has been part of
Florida's revenue structure since 1969, is expected to save
Florida businesses approximately $1.6 billion. While these
state-level changes are being proposed, county-specific
discretionary sales surtaxes will remain in effect.
We will continue to monitor this proposal's progress through
the legislative process.
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