Million – Florida is the only state that has a tax on commercial leases which unfairly targets small businesses . Governor Scott is proposing to reduce the tax on commercial leases by 25 percent in 2018 , saving Florida businesses $ 454 million a year .
Sales Tax Holidays to Save Families and Veterans $ 98 Million – Governor Scott is proposing four sales tax holidays which will save Florida families and veterans an estimated $ 98 million in the upcoming fiscal year .
These sales tax holidays include :
• $ 72 million from a 10-day back-toschool sales tax holiday ; this tax will provide annual savings of $ 15 million and help more small businesses hire additional workers . This proposal will eliminate these taxes for more than 80 percent of Florida ’ s businesses . This exemption was increased from $ 5,000 to $ 25,000 in 2011 and $ 50,000 in 2012 .
Exempting School Book Fairs from the Sales Tax to Save Families and Students $ 3 Million – Governor Scott is proposing to exempt the purchases of books at school book fairs from the sales tax , saving Florida families $ 3 million each year .
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• $ 7 million from a nine-day disaster preparedness sales tax holiday ;
• $ 18.4 million from a three-day veteran ’ s sales tax holiday ; and
• $ 500,000 from a one-day camping and fishing sales tax holiday .
Providing a One-Year Sales Tax Exemption on College Textbooks to Save Students $ 48 Million – Governor Scott is proposing to exempt the purchase of college textbooks from the sales tax for the 2017-18 academic year . The prices of college textbooks have increased significantly , often exceeding $ 100 per book . Exempting college textbooks from the sales tax is expected to save Florida students $ 48 million .
Cutting the Business Tax to Save Job Creators $ 15 Million – Governor Scott is proposing to exempt 22.5 percent of businesses from having to pay income taxes by increasing the corporate tax exemption from $ 50,000 to $ 75,000 . Eliminating
FEBRUARY 2017 • DITCHMEN 5