Reducing Taxes

HB 5601 Taxation:

the Legislature passed $500 million tax and fee cut proposal for Florida’s families and businesses-the largest tax and fee cut of its kind in over a decade.

Some of the savings include:

• A“Hurricane Preparedness” sales tax holiday that occurred May 31 to June 8 , 2014
• A “Back to School” sales tax holiday from August 1 to August 3, including no sales tax on clothing and shoes priced at or below $100, school supplies priced at or below $15, and the first $750 of price on personal computer equipment.
• A sales tax holiday from September 19 to 21 on the first $1,500 spent on energy-efficient and water-efficient appliances.
• A sales tax exemption for children’s car seats and youth bicycle helmets.
• A sales tax exemption for certain prepaid college meal plans.
• $37.5 million increase in the tax credit cap for the New Markets Program to encourage job creation in low-income communities.