The Florida legislature has passed a wide-ranging tax relief bill worth $196 million. It includes a third weeklong tax break, new tax credits for charitable contributions, hiring interns and purchasing items that make independent living possible. House Bill 7061 passed the legislature with 117 votes, and Gov. DeSantis has signed it into law. Here’s a quick overview of the bill. Among its many features are new exemptions for infant clothing and diapers, which will start on July 1, 2019.
The new law outlines the specifics of the tax breaks that Florida residents can benefit from. The sales-tax holidays will cover the sale of certain necessities, including fuel, diapers, and disaster supplies. This will help Florida families save more money than ever. Many items will also be tax-exempt for certain dates. Among the most common items that will be tax-free during the Back-to-School Sales Tax Holiday are diapers, disaster supplies, and tools.
In addition to the tax break for children, Florida has also implemented new state laws that provide tax relief to homeowners. The new state code requires tax collectors to abate property taxes if a parcel is destroyed. The property appraiser must notify property owners of the abatement. Those who suffer from an uninhabitable residential property may also receive a prorated refund of property taxes. A “catastrophic event” is defined as an event that caused damage to property, but was not caused by the property owner. In addition, Florida has also passed a bill that expands the number of active military deployments to include unclassified military operations in the past year.Get Tax Relief Attorneys to Assist you today