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Sales tax on commercial rents reduced as of January 1, 2020

One of the quirky aspects of Florida’s sales tax system is the enduring tax on commercial rents. While Florida is the only state that still taxes commercial rents, there is some good news for 2020. Section 212.031 of the Florida Statutes has been amended to reduce the applicable sales tax rate from 5.7% to 5.5% on rent payments received for occupancy periods beginning on or after January 1,

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Posted in Real Estate Law
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