House Bill Would Create Tax Holiday For Small Businesses
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TALLAHASSEE (CBSMiami/NSF) - Move over Black Friday.
A freshman House Republican filed a proposal Wednesday that would create a sales-tax holiday on November 28th for many small businesses in Florida.
The proposal (HB 259), filed by Rep. Jay Fant, R-Jacksonville, would dovetail with what has become known as Small Business Saturday, which is two days after Thanksgiving. It would allow shoppers to avoid paying sales taxes that day on a wide range of items described in state law as "tangible personal property."
The tax holiday would apply to businesses that remitted less than $200,000 in sales taxes to the state during the previous year.
Also, it would apply to what the bill describes as "newly created" small businesses. To be included in that classification, a business would have to be in operation for less than a year and have remitted less than $50,000 in sales taxes to the state during at least three of the previous 12 months.
Similar tax holidays have long been popular with lawmakers, retailers and shoppers. The best-known have been back-to-school holidays that have allowed shoppers to avoid paying sales taxes on clothing and school supplies during designated days.
The News Service of Florida contributed to this report.
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