The New Florida Tax Law

The new Florida tax law enacted by the Legislature includes tax breaks for low- and middle-income Floridians. The bill offers three new weeks of tax vacation, as well as credits for charitable donations, first responders, teachers, and people renting state property. The state will also cut its sales tax for businesses and institute a back-to-school sales-tax holiday, making the state more competitive for jobs. This legislation is expected to help the state’s economy, as it is expected to generate $54.7 million in taxes during the holidays.Phoenix tax relief company

The state’s new tax relief laws are designed to help low-income Floridians pay their taxes. The state is extending tax breaks for those displaced by Hurricane Sally. The state’s legislature has also increased its cap on annual income tax credits for contaminated sites, allowing businesses to claim 17.5 million in tax credits this year. While these changes are important, there are still many issues that need to be addressed before they can be implemented.

Learn More About Reducing Your Tax

One major tax relief program Florida has implemented is a sales tax holiday for low-income individuals and families. This program offers a 50 percent discount on affordable housing, and has extended this discount to 100% of property taxes. This one-time boost in the cap is expected to provide an extra $17.5 million in tax credits for low-income Floridians. This means lower taxes for low-income residents, which can increase their incomes and invest in their homes.

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