Governor Ron DeSantis Approves Tax Reform Package Lowering the Cost of Living on Families and Reducing Cost of Doing Business on Job Creators
TALLAHASSEE, Fla. (May 15, 2019) — With the stroke of a pen, Governor Ron DeSantis today approved a Florida Chamber of Commerce-backed tax reform package that lowers the cost of living on families and reduces the cost of doing business on job creators.
“At the Florida Chamber we know that a competitive and equitable tax system creates jobs and strengthens the economy,” said Mark Wilson, President and CEO, Florida Chamber of Commerce. “We thank Governor DeSantis and the Florida Legislature for taking the necessary steps to ensure Florida remains one of the best business and tax climates in the nation.”
The tax reform package, HB 7123, includes the following:
1. Business Rent Tax: Continues chipping away at the Florida-only business rent tax, saving job creators $64.5 million annually and reducing the rate from 5.7 to 5.5 percent. This long-held Florida Chamber priority allows job creators to reinvest in their businesses.
2. Sales Tax Holidays: Provides disaster preparedness and back-to-school sales tax holidays.
The Florida Chamber of Commerce thanks Governor DeSantis and the Florida Legislature for their continued efforts to lower the cost of doing business and the cost of living for Florida job creators and families.
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Established in 1916 as Florida’s first statewide business advocacy organization, the Florida Chamber of Commerce is the voice of business and the state’s largest federation of employers, chambers of commerce and associations aggressively representing small and large businesses from every industry and every region. The Florida Chamber works within all branches of government to affect those changes set forth in the annual Florida Business Agenda, and which are seen as critical to secure Florida’s future. The Florida Chamber works closely with its Florida Political Operations and the Florida Chamber Foundation. Visit www.FloridaChamber.com for more information.