Florida online shoppers to pay more

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Gov. Ron DeSantis has signed into law a bill requiring out-of-state online retailers to collect sales taxes on purchases made by Floridians.

 

The bill is estimated to produce $1 billion a year, with the money first earmarked for the unemployment trust fund, which became depleted because of massive job losses during the COVID-19 pandemic. Businesses pay taxes that go into the trust fund and, without another source of money, would have faced higher taxes to replenish the fund.

After the fund is replenished, the revenue will be used to make a major cut in the commercial-rent tax, long a target of business lobbying groups. Senate President Wilton Simpson, R-Trilby, and House Speaker Chris Sprowls, R-Palm Harbor, agreed to reduce the commercial rent tax from 5.5 percent to 2 percent.

Read Florida online shoppers to pay more for the full story, including comments for and against the new law.

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Andrew Oliver
Sales Associate | Market Analyst | DomainRealty.com
REALTOR®

Naples, Bonita Springs and Fort Myers
Andrew.Oliver@DomainRealtySales.com
m. 617.834.8205
www.AndrewOliverRealtor.com
www.OliverReportsFL.com

Market Analyst | Team Harborside | teamharborside.com
Sagan Harborside Sotheby’s International Realty
One Essex Street | Marblehead, MA 01945

www.OliverReportsMA.com
Andrew.Oliver@SothebysRealty.com

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