Florida Law Offers Over $400 Million in Tax Breaks

– A $60,000 cap is now placed on the amount of sales tax paid on repairs of a vessel costing over $1 million.
– More sales tax exemptions are now available for agricultural equipment, aquacultural products, and feed for aquacultural products.
– Corporate income tax credit program is now prorated and limited to specific industries.
– An additional $14 million is allocated for the corporate income tax research and development tax credit program in 2016.
– Sales tax exemption is now applied to gun club memberships.
– Community contribution tax credit programs are extended until June 30, 2018, with an increased tax credit cap for housing projects.
– An additional $16.6 million will be spent on the brownfields tax credit program.
– A 1.73% Communications Services Tax reduction went into effect on July 1.
– A 10-day back-to-school sales tax holiday will be held from August 7 through August 16.

https://www.williamsparker.com/insights/florida-tax-legislation-provides-a-hodgepodge-of-tax-breaks-totaling-over-400-million/