SB 1112 – Relating to Taxation
On Monday, March 11, SB 1112 by Senator Joe Gruters (R-Sarasota) was heard before the Senate Commerce and Tourism Committee and was reported favorably with 5 yeas and 0 nays. AIF’s Senior Vice President of State and Federal Affairs, Brewster Bevis, stood in support of this legislation.
This bill provides for several tax reductions and modifications, such as:
- Exempts specified mobile heavy equipment from ad valorem taxation;
- Reduces the state tax rate on the rental, lease, or license to use commercial real property from 5.7 percent to 4.2 percent;
- Creates a 14-day sales tax holiday for specified disaster preparedness supplies from June 1, 2019, through June 14, 2019;
- Clarifies when remote sales (mail, phone, internet, or other communication) are subject to Florida sales and use taxation;
- Provides for the taxation of sales facilitated through a marketplace provider; and
- Requires a marketplace provider to collect and remit the tax on taxable sales made by marketplace sellers.
SB 1112 will now move to the Senate Finance and Tax Committee.
AIF supports legislation that reduces taxes and provides a level playing field for Florida’s brick and mortar stores and online retailers.