Three far-reaching tax-free weekends on Coastal Breeze Information

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 Three far-reaching tax-free weekends on Coastal Breeze News

The Florida Senate passed House Bill 7061, Taxation, sponsored in the Senate by Senator Ana Maria Rodriguez (R-Miami), and signed by Governor DeSantis. Legislation focused on sales tax breaks for Floridians preparing for the upcoming 2021 hurricane season and the 2021-2022 school year, as well as individuals and families enjoying outdoor activities and events. The bill also extends the current tax exemption for affordable residential property and provides permanent sales tax exemption for items that support independent living.

Extends the affordable housing tax credit

Florida law currently offers property owners providing affordable housing to low-income individuals and families a 50 percent discount on property taxes on these units. The discount only applies to properties with more than 70 residential units and begins after the property has been classified as affordable residential property for 15 years. To encourage more property owners to offer affordable housing units, the bill extends the property tax rebate to 100 percent of property taxes. In continuation of the current requirement, the 100 percent exemption only begins when the property has been reported as affordable residential property for 15 years.

A collection of items necessary to survive after a hurricane

Permanent VAT exemption for independent residential property

The legislation provides for permanent VAT exemption for items that contribute to independent living. When purchasing for non-commercial, personal, or personal use, the exception is for bed transfer handles that sell for $ 60 or less, bed rails that sell for $ 110 or less, grab bars that sell for $ 100 or less, and shower seats, that sell for $ 100 or less.

Establishes sales tax leave for the start of school in 2021

Legislation provides 10-day back-to-school sales tax vacation from July 31 to August 9, 2021 for clothes, shoes, and backpacks priced at $ 60 or less, school supplies priced at $ 15 or less, and the first $ 1,000 the sales tax price for PCs or accessories for PCs.

Establish the 2021 Disaster Preparedness Sales Tax Holiday

The legislation provides for a 10-day sales tax vacation from May 28 to June 6, 2021 for disaster risk reduction supplies for disaster risk reduction. Some examples of tax-free items include: flashlights and lanterns for $ 40 or less; Radios for $ 50 or less; Planning costs $ 100 or less, coolers are $ 60 or less, batteries are $ 50 or less; and generators that cost $ 1,000 or less.

Establishes the 2021 Freedom Week Sales Tax Holiday

During the week of July 1 through July 7, 2021, purchases will be made for music events, sporting events, cultural events, certain performances, films, museums, state park annual passes, and fitness facilities for events July 1 through December 31. 2021 will be tax free. In addition, the purchase of season tickets is also excluded.

The Freedom Week Sales Tax Holiday also applies to the sale of boat and water supplies, camping supplies, fishing supplies, general outdoor accessories and sports equipment.

For more information about the items in the specific listings and any applicable dollar restrictions on tax-free holidays, visit FloridaRevenue.com.