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House Completes Work On Scott’s Tax Cuts

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Florida Money
Politics

TALLAHASSEE (CBSMiami/NSF) – The Florida House passed a plethora of tax cuts Thursday that includes multiple sales tax holidays in the coming year. The bill will reduce the state revenue by $100 million and complete Governor Rick Scott’s election year plan of $500 million in tax cuts.

According to the News Service of Florida, the House bill will designate a sales-tax holiday of 12 days in June on certain hurricane preparedness supplies. It will also include a three-day tax holiday in August for clothes and shoes priced at $100 or less, school supplies priced at $15 or less, and the first $750 of computers and certain accessories.

In addition, the bill has a three-day holiday in September on the first $1,500 of the prices of certain energy and water efficient appliances. Finally, it has a seven-day tax holiday in September for physical-fitness memberships.

A separate provision will also give corporations a tax cut by increasing the corporate income tax exemption from $50,000 to $75,000.

(TM and © Copyright 2014 CBS Radio Inc. and its relevant subsidiaries. CBS RADIO and EYE Logo TM and Copyright 2014 CBS Broadcasting Inc. Used under license. All Rights Reserved.This material may not be published, broadcast, rewritten, or redistributed. The News Service of Florida contributed to this report.)

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