Legislature Eases State Business Rent Tax

Florida Realtors applauds new law.

By staff May 30, 2017

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Gov. Rick Scott signed HB 7109 last week, which reduces the state tax on commercial leases. The law takes effect on Jan. 1, 2018, and lowers the new state tax rate on commercial leases to 5.8 percent from its current 6 percent, an impact of $61 million. Florida is the only state that charges this tax. Florida Realtors says lowering this tax will provide Florida businesses with more capital to expand and the ability to hire more employees, improve benefits and raise salaries.

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