Florida Tax Relief – Tax Relief For Families

The state of Florida has just passed a huge tax relief package, signed by Gov. Ron DeSantis. The bill will save Floridians over $1.1 billion in taxes and is aimed at helping families. One year’s worth of diapers and infant clothing will be exempt from the state’s tax burden. Reusable diapers and inserts are included in the tax break, which is expected to reduce gas prices by 25 cents per gallon.click here for tax relief

The governor has pledged to sign the tax breaks into law, which will help Floridians purchase essential items. For example, a tax break on diapers, gasoline, and disaster supplies will help Florida families save more than $65 each year. However, tax breaks do not apply to all purchases. So you should check with your tax professional for more information about qualifying purchases. In addition, don’t be confused by the list of exempted items.

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In addition, Florida has enacted several measures to help Florida taxpayers. A recent bill, House Bill 5601, established a back-to-school sales tax holiday and lowered the price of communication services and televisions. Another major tax cut came in the form of a one-time increase of the cap on the contaminated site rehabilitation tax credit from $10 million to $27.5 million per year. With this one-time increase, corporations are estimated to claim $17.5 million in tax credits.

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In addition to the sales tax holiday, the governor wants to make temporary exemptions for fuel, back-to-school supplies, certain recreational activities, and gasoline. While these measures are a great first step, they cannot solve the underlying inequities in Florida’s tax code. Instead, policymakers could make these sales tax holidays permanent by reforming the state’s upside-down tax system. So, if you’re looking for a tax break, consider applying for the WFTR program.

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