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A new national budget has been agreed, and with it new tax measures aimed at benefiting several industries.
Overall, the tax savings would be $146 million. The three biggest areas are sales tax holidays for hunting, fishing, and camping.
This is a list of tax breaks/exemptions coming this year for Florida residents.
sales tax
Back-to-school tax holiday runs from July 20th to August 20th.
This year’s Hunting, Fishing and Camping Tax Holiday runs from September 1st to December 31st.
Products with selling price caps that qualify for this tax credit include:
Tents, fishing rods and reels. Camping lanterns, flashlights, tackle boxes and bags. Bait or fishing gear. Sleeping bag, portable hammock, camping stove.
Ammunition, firearms, and some accessories. Bows, arrows, quivers, etc.
homeowner
Homeowners can receive a sales tax refund if they purchase items that enhance their home. These items include impact-resistant doors, garage doors, and windows.
propane tank. Consumers can receive a tax exemption on propane tanks with a capacity of 20 pounds or less.
sporting event
If you participate in the Tennis Professional Association’s ATP Masters 1000 tournament or the Women’s Tennis Association’s WTA 1000 tournament, sales tax is exempt.
Various tax changes
If a local school district wants to raise taxes, the county commission does not have to call an election.
Install an alarm system
This program continues to extend the exemption from interest-free written payments of up to $3,500 given by customers to alarm system contractors for the sale of alarm systems.
gambling
Taxes on slot machine profits will drop from 35% to 34%, and gross tax receipts on cardroom profits will drop from 8% to 5%.
