Expect These Tax Breaks From Florida’s Tax Relief Package

Florida lawmakers have negotiated a nearly $1.3 billion tax package for next fiscal year that includes expanding popular shopping sales-tax “holidays,” trimming a commercial lease tax and cutting costs of diapers for babies and adults.

The House and Senate are expected Friday to pass the package (HB 7063) and a record $117 billion budget (SB 2500) before ending the annual legislative session.

Senate Finance and Tax Chairman Blaise Ingoglia, R-Spring Hill, said in a memo that the package “offers broad-based tax relief totaling just less than $1.3 billion." While many of the tax breaks would be provided for limited periods, $303 million would recur each year in the future.

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