2023 Florida Tax Relief

Florida Governor Ron DeSantis signed an omnibus tax bill, on May 25, 2023, that includes several sales tax changes and exemptions. The sales tax relief for consumers is part of a broader tax relief bill touted to provide over $2 billion in tax relief during the fiscal year. We reported previously on many of the exemptions here . The legislation establishes a slew of sales tax holidays in 2023 and 2024 including:

  • School Supplies – July 24, 2023 through August 6, 2023 and January 1, 2024 through January 14, 2024
  • Disaster Preparedness – May 27, 2023 through June 9, 2023 and August 26, 2023 through September 8, 2023
  • Freedom Summer – May 29, 2023 through September 4, 2023
  • Tool Time – September 2, 2023 through September 8, 2023
  • Energy Star – July 1, 2023 through June 30, 2024
  • Gas Stoves and Cooktops – July 1, 2023 through June 30, 2024
  • Detailed information including lists of items that qualify for each tax holiday can be found here.

    Permanent sales tax exemptions, effective July 1, 2023, are part of the tax bill and include the following:

  • Baby and toddler products
  • Diapers and incontinence products
  • Oral hygiene products
  • Machinery and equipment to produce renewable natural gas
  • Certain agricultural fencing
  • Firearm safety devices
  • Services provided by small investigative agencies
  • Lastly, the tax bill includes relief on commercial leases or rentals by reducing the applicable state tax rate to 4.5% (from 5.5%) on December 1, 2023.

    If you have questions on Florida’s new tax relief or other SALT matters, please contact HBK’s SALT Advisory Group at hbksalt@hbkcpa.com.

    About the Author(s)
    Matt Dodge is a Senior Manager, State and Local Tax, HBK CPAs & Consultants. He has more than 20 years of experience in state and local tax (SALT) with a focus on sales and use tax. He has served clients in various industries, including construction, manufacturing, oil and gas, retail, service providers, and transportation. He can be reached by email at mdodge@hbkcpa.com.
    Hill, Barth & King LLC has prepared this material for informational purposes only. Any tax advice contained in this communication (including any attachments) is not intended or written to be used, and cannot be used, for the purpose of (i) avoiding penalties under the Internal Revenue Code or under any state or local tax law or (ii) promoting, marketing or recommending to another party any transaction or matter addressed herein. Please do not hesitate to contact us if you have any questions regarding the matter.