Fla. Gov. Proposes Cutting Commercial Lease Tax By $100M

Law360, Miami (January 28, 2014, 5:27 PM EST) -- Florida Gov. Rick Scott announced Tuesday that his 2014-15 recommended budget will include a $100 million reduction of the state's sales tax on business rents as part of his pledge to cut taxes and fees by $500 million in the coming fiscal year.

Scott’s budget, which he will present in full on Wednesday, will propose reducing the tax on commercial leases by one half of a percentage point. The current 6 percent tax costs Florida businesses about $1.4 billion annually, and this cut would save them...
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