TALLAHASSEE, Fla. – Dec. 17, 2015 – A new video focuses on Florida's business rent tax. Created by the Business Rent Tax Coalition – a group of 31 Florida companies and associations – the video explains in simple terms the problems created by a tax that exists only in Florida.
The Coalition hopes the video will be watched and shared.
In his 2016 budget proposal, Gov. Rick Scott proposed a reduction in the business rent tax by 1 percent in 2017 through the use of both recurring and non-recurring funds. He said that change would save Florida businesses $339 million over the next two fiscal years.
Florida Realtors® backs a reduction in the sales tax paid on commercial rent.
"For Florida to be more competitive and inviting to business, we must cut the business rent tax," says Carrie O'Rourke, Florida Realtors®vice president of public policy. "Adding sales tax to rent can mean the difference in whether a small business is able to grow and expand – or even if they can stay in business at times.
"We urge lawmakers to take action this year to cut the business rent tax by one percent, which will provide broad-based tax relief for businesses across Florida, increase job opportunities and encourage economic growth."
The complete video – Florida Wins – The Business Rent Tax – is available on YouTube and can be shared on most social media sites by clicking the "share" link.
© 2015 Florida Realtors®
Reprinted with permission. Florida Realtors®. All rights reserved.