Senator Hukill: Commercial Lease Sales Tax Bill Passes Community Affairs Committee

Wednesday, March 04, 2015 1:37 PM | Anonymous

TALLAHASSEE – Senator Dorothy L. Hukill’s (R-Port Orange), Senate Bill 140 has passed Community Affairs, its first committee of reference, with unanimous support.

The legislation will reduce the sales tax on commercial leases. Florida currently requires that a 6% sales tax be collected from businesses that lease real property, and is the only state that collects such a tax. Senator Hukill’s legislation would reduce the applicable sales tax by 1%. The reduction would provide much needed financial relief to businesses that are burdened by this tax. It would also decrease the disadvantage businesses are at compared to other states that do not charge this tax.

"The reduction of the sales tax on commercial leases will encourage business growth and expansion in Florida," said Senator Hukill. "Florida businesses are at a disadvantage compared to other states and we need to ensure they can be competitive."

The bill will next be heard in the Finance and Tax committee.

Click here for full press release.

Comments

  • Tuesday, March 24, 2015 12:58 PM | Anonymous
    SB 140 unanimously passed the Senate Finance and Tax Committee on March 23; it now moves on to Appropriations. On our monthly BOMA Florida Conference call this morning, Speaker Moffitt indicated that the Bill, although gaining momentum, is not likely to see continued support as it is not on the Governor's radar as clearly as the reduction of the Communicative Services Tax has become. Additionally, there are huge unknowns with the entire Budget, let alone any potential Tax Breaks, as State and Federal officials Legislatures haggle over Medicare funding in the State.
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  • Wednesday, March 09, 2016 8:16 AM | Chris Keena
    Mark, SB 140 has to do with School Choice and SB 1140 has to do with Concealed Weapon or Firearm License. What is the correct bill #? Thanks! Chris
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