| Florida Chamber-Backed Provisions Included in Tax Package, Local Businesses Win with Elimination of Business Rent Tax | |||
| Late last night, HB 7031 – this year’s $1.3 billion tax relief package – passed off the House and Senate Floor and is soon headed to Governor Ron DeSantis for his approval. The bill includes several Chamber-backed provisions important to Florida’s local businesses and moves our state closer to the Florida 2030 Blueprint goal of having the most business-friendly tax climate in the nation. The biggest win included in this year’s tax package, following nearly a decade of advocacy led by the Florida Chamber, is the elimination of the Florida-only Business Rent Tax – a $3 billion annual tax burden in total. HB 7031, which eliminates the current 2 percent tax, will save local businesses an additional $900 million. Florida remains the only state in the nation that levies a tax on commercial leases, placing our state’s job creators at a competitive disadvantage compared to businesses in every other state. The tax savings will allow local businesses to make meaningful investments in their communities and employees, generate new employment opportunities, and fuel business growth. The bill also includes several additional Florida Chamber-backed provisions, highlighted by changes to the local communications services tax and the extension of the data center tax exemption. The communications services tax freeze is extended until January 1, 2031, and importantly includes a provision ensuring these taxes are used for their originally intended purpose – expanding communication services and accessibility for Floridians. The extension of the data center tax exemption through June 30, 2037, incentivizes an innovative and growing industry to invest capital and create high-wage jobs through data center development in Florida. |
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