The state of Florida recently passed a new tax package,HB 7071,that includes permanent tax relief,a wide range of sales tax exemptions,and an expansion of corporate income tax credits. It is expected to save Florida residents an additional $190 million in taxes over the next two years. Additionally,the bill includes a one-month fuel tax holiday,which will help reduce gas prices by up to 25 cents per gallon.
,
-
,
The tax relief package,dubbed the largest in Florida’s history,was signed by Gov. Ron DeSantis at a press conference in Ocala. It offers tax breaks on critical items,including gas,clothing,diapers,and disaster supplies. The tax break is available to any Florida resident,but it will be most beneficial for low-income families.
,
-
,
The tax relief package also provides a one-year tax exemption on certain items,including diapers and baby clothes. This election-year tax relief package is billed as helping Florida citizens reduce their tax burdens. However,there are many requirements to qualify. First,you must prove that you are not able to pay the full amount of your tax debt. Then,you must agree to a payment plan that will allow you to pay 25 percent of your balance within 12 months.
,
-
,
The tax package also includes a seven-day tax holiday,which lets consumers purchase certain items without paying sales taxes. In addition,the tax package allows consumers to get a discount on certain items,such as work gloves,disaster supplies,tools for the skilled trades,and recreational items.
,
-
