Yearly Archives: 2024

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Business Rent Tax Reduction Takes Effect in June

Business Rent Tax Reduction
A Business Rent Tax Reduction, slashing Florida’s commercial lease sales tax from 4.5% to 2.0%, starts on June 1, considerably earlier than expected. (This tax reduction was originally scheduled for July.) The change will offer Florida employers an estimated $1 billion in tax relief. The reduction, advocated for by Florida Realtors®, is the most significant…
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Optimistic Projections for 2024 U.S. Economy

Optimistic Projections for 2024
Optimistic Projections for the 2024 U.S. Economy are based on multiple factors. The U.S. economy appears to be on a much stronger trajectory for 2024 than previously anticipated by business economists, with the National Association for Business Economics (NABE) projecting a growth rate of 2.2% after inflation adjustments, up from earlier predictions of 1.3%. Despite…
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Business Rent Tax Elimination is Good for Florida

Business Rent Tax
A study about Business Rent Tax Elimination conducted by the Regional Economic Consulting Group indicates that abolishing Florida's Business Rent Tax (BRT), commonly known as the sales tax on commercial leases, could lead to significant economic benefits for the state. Commissioned by Florida Realtors®, the study suggests that an investment of $976.8 million to eliminate…
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