Florida Tax Relief – House Bill 7061
House Bill 7061, sponsored by Senator Ana Maria Rodriguez, provides broad tax relief for businesses and families in Florida. The bill eliminates the sales tax on certain items used for outdoor activities. It also creates a permanent sales tax holiday for items used for independent living. The bill will also help those with limited financial resources to get back on their feet. It will go into effect on January 1, 2020. More details can be found at the Florida Legislature’s website.
HB 7061 creates a sales tax exemption for independent living items like bed rails, shower seats, and grab bars. It also doubles the ad valorem tax exemption for affordable housing properties, raising it from 50% to 100%. The bill also contains an implementation language for a proposed constitutional amendment to provide property tax relief for flood mitigation. It may be a good time to look into tax reform. By hiring an attorney, you’ll be able to save money while gaining a better understanding of your legal rights.
Tax Relief Assistance in Orlando
A $196 million tax break package passed by the Florida Legislature will allow businesses to deduct their expenses incurred in Hurricane Irma relief efforts. Other notable provisions include a third week-long tax holiday, new tax credits for charitable donations, and new exemptions for individuals who are disabled or who live alone. The bill, known as House Bill 7061, was compiled by the House Ways & Means Committee. It was passed unanimously by the Senate and passed by the House on a 117-1 vote.