Florida Enacts Tax Legislation

The Florida Governor signed a law concerning taxation, with certain line-items vetoed. The law includes: 1) repealing, beginning Oct. 1, the business rent tax; 2) replacing the two-week back-to-school sales tax holiday with a permanent holiday for the full month of August; 3) creating a permanent sales tax exemption for certain disaster preparation products; and 4) conforming corporate income taxes to the federal Internal Revenue Code effective Jan. 1. The law took effect on July 1, except as otherwise provided. [H.B. 7031, enacted 06/30/25]

This story was produced by Bloomberg Tax Automation, and edited by Bloomberg Tax staff.