What Would You Do If You Had One Week To Spend $70 Billion?

Date: March 01, 2016 Last Edit: March 03, 2016

How much of the record-setting tax revenues will they return to small business owners?

That’s exactly what your state legislators are pondering as they go into the last week of the 2016 legislative session with the job of finalizing the state budget.  How much of the record-setting tax revenues will they return to small business owners?

The legislature is debating whether to reduce
the sales tax on commercial leases by 1% ($100 for every $10,000 in lease costs
annually) versus reducing millage rates for property taxes for all property
owners. In reality, due to increased property assessments and increases in
school spending, we calculate the net reduction over last year’s property taxes
will save you less than $1 per $100,000 in assessed property value. You do your
own math, but based on NFIB member ballots, the commercial rent sales tax cut
would result in far more tax savings for most business owners.

The legislature will decide this issue by next Friday, March 11.  Click
here to send a message to your legislators in Tallahassee.

Related Content: Small Business News | Economy | Florida

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