Florida Offering Over One Billion In Tax Relief

On May 6, 2022 the Governor of Florida, Ron DeSantis signed HB 7071, offering $1.2 billion in tax relief, by means of gas tax and sales tax holidays. First, Florida’s gas tax will be suspended beginning in October. Additionally, children’s diapers will be exempt from sales tax for one year beginning in July. Florida will also have a series of week-long tax holidays for products such as disaster preparedness, children’s clothing, home improvement tools, and school supplies. The Freedom Week sales tax holiday spans a week in July and includes admissions to live music, cultural, and sporting events as well as exemptions for specified outdoor, fishing, camping, boating and other supplies. The full list of Florida’s sales tax holidays can be found in our Sales Tax Holiday Chart (includes time frame and applicable products). Certain relief begins July 1, 2022 and will be in effect over the course of the next two years. (Florida House of Representatives, HB 7071, effective July 1, 2022)

Posted on May 31, 2022