Florida’s Commercial Tax Lease – Good News For Business Owners
Good news for Florida businesses…the Florida Legislature has passed a $1 billion dollar tax cut as part of a bill that is the first step in eliminating Florida’s much-hated commercial lease tax.
Currently, Florida assesses a 6% tax on commercial leases. In Miami-Dade County, the tax is 7%. That tax will decrease by 1% in 2017 and 2018. The bill also permanently eliminates a tax on manufacturing and provides sales tax holidays for consumers.
Florida is the only state to charge a commercial lease tax and businesses have been trying to eliminate the tax for years. The tax puts Florida businesses at a competitive disadvantage relative to other states and artificially increases commercial and retail rents.
As Trustee Members of the Coral Gables Chamber of Commerce, and a member of the Chamber’s Business & Government Affairs Committee, Chris Spuches, an Ehrenstein Charbonneau Calderin Partner, joined a delegation of business owners this past October, to lobby our legislators in Tallahassee to eliminate this tax. The firm lobbied about a dozen legislators and strategized with the Florida Chamber of Commerce as well as other groups targeting this tax. The bill now goes to the Florida Senate and if it passes that chamber, the Governor has promised to sign the bill into law.