Business Rent Tax Elimination is Good for Florida

Business Rent Tax Elimination is Good for Florida

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 the tax could generate $4 billion in the first year and $19.7 billion over five years, fostering new business growth and creating over 58,000 new jobs in construction, operations, and maintenance. Florida Realtors® President Gia Arvin emphasizes that eliminating the BRT could stimulate substantial economic growth and community development statewide. Florida is currently the sole state imposing a sales tax on businesses renting commercial space, disproportionately affecting small businesses. Despite previous reductions in the BRT, its presence continues to pose a financial burden on lessees. Eliminating the tax could further facilitate business expansion, job creation, and economic prosperity.

Click here to read more about the proposed elimination of the business rent tax.

If you'd like to discuss Business Rent Tax Elimination and how it affects you, please contact Barry at 561-880-5587 or click here to send an email.

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Barry was born and raised in Miami but left in 2004 and now is a happy resident of Delray Beach, Florida. For commercial property, Barry is a boutique commercial practiioner specializing in Retail, Office, Industrial and Land. Whether helping you find a site or property to purchase, choose a building or space to lease for your business, market your property to find a tenant, or use our marketing team to help you divest of your property, we have the perfect plan so let’s talk about it. Barry holds the title of RTS which a Certified Raveis Technology Specialist. This means when it comes to market your property, rest assured Barry knows how to utilize the latest technology programs to maximize your property's exposure which leads to more buyers, more offers, and ultimately a higher price if you are selling. He specializes in Luxury Properties. When assisting residential clients, he relishes developing long lasting relationships and takes the time to fulfill the goals of his clients. Whether looking for the perfect home to buy or sell, Barry will take his time and it will be reflected the first day you begin working with him on your journey. Luxury Property? Put The William Raveis Luxury Team to work for you and ask about our Luxury Property Program! Selling an asset on your own can be an overwhelming task. There's advertising to plan and budget for, possibly private showings to arrange, purchase offers to negotiate, contract contingencies to worry about, and complicated paperwork to fill out. Make it easy on yourself by putting your asset in the hands of seasoned professionals. We have extensive experience marketing properties & showing them to their best advantage. William Raveis is a real estate company that does things right. Rooted in a foundation of family values, William Raveis is bringing a breath of fresh air to real estate.Firm believers in doing the right thing by its clients, William Raveis recognizes that lasting relationships come from care, courtesy and commitment – to both our clients and their communities. These values embody the William Raveis difference and we strive to surprise with service, delight with dedication and maintain a moral code which sets the gold standard in our sector.We are William Raveis. We are real estate, refined.

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