Florida DOR Announces Reduction in Sales Tax Rate on Rentals, Licenses to Use Real Property

The Florida Department of Revenue (DOR) April 8 announced the reduction in the state sales tax rate. Effective June 1, the sales tax rate on the total rent charged for commercial rentals is reduced from 4.5 percent to 2 percent. The release also provides the applicability of the tax rate on rental charges paid before and after June 1. [Fla. Dep’t of Revenue, Tax Info. Publ’n 24A01-02, 04/08/24]

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