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Tuesday, May 13, 2014

FLORIDA TAX CUTS SIGNED INTO LAW [FLORIDA]

Gov. Rick Scott signed tax and fee cuts into law on May 11, 2014. The key cuts are:

a. three sales tax holidays—one each for hurricane supplies, back to school supplies and energy efficient appliances;

b. sales tax exemptions on child car seats, youth bicycle helmets, college meal plans, therapeutic pet foods and cement mixers; and

c. a reduction in electricity taxes.

These cuts are expected to save Floridians more than $121 million in taxes. Last month, cuts in motor vehicle fees of $400 million were also enacted.

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