Florida House Approves Major Sales Tax Cut, Set to Take Effect in 2025 In a historic move, the Florida House voted unanimously on Wednesday to approve HB 7031, a sweeping bill that would permanently reduce the state’s general sales tax rate. This change could reshape the state’s revenue landscape starting next year. The legislation would…
Back-to-school shopping can be expensive, but many states offer relief through tax-free weekends. This year, 17 states provide a tax break on school-related items like clothing, shoes, electronics, and supplies. Here’s a list of the states participating in these sales-tax holidays: Alabama Arkansas Connecticut Florida Iowa Maryland Massachusetts Mississippi Missouri New Mexico Ohio Oklahoma South…
Florida sales& use tax may not be collected during the period from September 3, 2022 through September 9, 2022, on the retail sale of: hand tools selling for $50 or less per item; power tools selling for $300 or less per item; power tool batteries selling for $150 or less per item; work gloves selling…
Florida sales and use tax and property tax legislation is enacted that provides a number of tax holidays and temporary exemptions. Sales and Use Tax Provisions The legislation includes: a temporary two-year sales and use tax exemption from July 1, 2022 to June 30, 2024, on the retail sales of impact-resistant windows, doors, and garage…
MULTISTATE – The Tax Foundation has released its 2019 State Business Tax Climate Index. This Tax Climate Index is made up of 5 major components. Individual Taxes Corporate Taxes Sales Taxes Property Taxes Unemployment Insurance Taxes In this blog, we’re discussing how states rank on sales taxes. 25.3% of each state’s overall score is determined…
Multistate – The Multistate Tax Commission and the National Nexus Program is offering a special limited-time voluntary disclosure initiative, in which the following states are participating: Alabama Arkansas Colorado Connecticut Florida Idaho Iowa Kansas Kentucky Louisiana Nebraska New Jersey Oklahoma South Dakota Texas Utah Vermont Wisconsin The states listed above will consider applications for voluntary…
Florida – The Florida sales and use tax exemption for industrial machinery and equipment previously scheduled to expire on April 30, 2017, has become permanent. Effective July 1, 2016, the exemption for machinery and equipment was expanded to include: Recycling industries classified under code 423930 of the North American Industry Classification System (NAICS) (2007) and…
