Florida House Pushes Florida Chamber-Backed Business Rent Tax Reduction Bill Forward
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| Florida House Advances Florida Chamber-Backed Reduction to the Business Rent Tax | |||
| Earlier today, the House Ways & Means Committee advanced Proposed Committee Bill WMC1, which includes a reduction of the Florida-only Business Rent Tax from two percent down to 1.25 percent, saving local businesses approximately $310 million annually. Florida remains the only state in the nation that charges a tax on commercial leases, which puts Florida’s job creators at a competitive disadvantage compared to every other state in the nation. The reduction in this Florida-only tax will allow local businesses to hire new employees, reinvest in their business, and invest in their communities. As negotiations with the Senate are ongoing, the Florida Chamber is actively engaged with lawmakers in the House and Senate working to ensure business-friendly tax relief, especially a reduction of the Florida-only Business Rent Tax, is included in the final product. Through the Business Rent Tax Coalition, the Florida Chamber has led the effort to fully repeal this tax, starting with its first reduction from six percent to 5.8 percent in 2017. The Chamber remains committed to advocating for further tax reductions that support Florida local businesses, aligning with the Florida 2030 Blueprint goal of making Florida’s business tax climate the best in the nation by 2030. |
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Get Engaged: Join our Business Rent Tax Coalition and work alongside the Florida Chamber to eliminate this Florida-only tax by contacting your lawmaker and urging them to fully eliminate the Florida-only Business Rent Tax. |
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