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Florida will eliminate its longstanding sales tax on commercial rents effective October 1, 2025, saving businesses an estimated $1.53 billion annually and benefiting office, retail, and warehouse leases.
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Though reducing state revenue by over $900 million and local revenue by $623 million yearly, the tax cut is seen as a major win for small businesses and economic competitiveness.
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The new law also includes permanent sales tax exemptions for disaster prep items, gold bullion, NASCAR tickets, and a month-long back-to-school tax holiday to benefit residents.
Source: www.taxconnex.com
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