Scott proposes $618M in tax cuts
Gov. Rick Scott announced this morning that he will ask the Florida Legislature for $618 million in tax cuts aimed primarily at businesses to help continue to create jobs.
“We’ve got to do everything we can to drive the cost of being in our state down as much as we can,” Scott said at a small business in Jacksonville where he rolled out his tax cut proposal.
The biggest item in Scott’s tax cut plan is a proposal to cut a tax on commercial leases by 25 percent - an idea the Legislature has rejected in past years because of the hit to future budgets. Cutting that tax by 25 percent would cost the state $454 million in tax revenues.
Florida is the only state to levy a commercial rent tax, a 6 percent charge on the total rent paid for any commercial property, including stores, offices and warehouses.
It’s not the first time Scott has asked for a cut in commercial lease taxes in Florida. In 2014 and last year Scott asked for cuts to the commercial lease taxes. The Legislature said no both years.
Scott’s other proposals:
- exempt nearly one quarter for Florida businesses from having to pay corporate income taxes
- a 10-day back to school shopping period with no sales taxes
- a 9-day disaster preparedness sales tax holiday
- a 3-day sales tax free shopping period for military veterans
- eliminating sales taxes on college textbooks for one year
While the majority of the tax cuts would primarily go to businesses, Scott said in a statement to the media that it ultimately helps people too.
"When we cut taxes, it helps businesses create jobs - jobs that ultimately help the poorest, most disadvantaged families in our state," Scott said.