- Florida DOR issued information on a new sales tax exclusion for motor vehicle leases
- The exclusion applies to certain motor vehicle leases used in a trade or established business
- The lessor must have paid sales or use tax on the vehicle purchase price
- The lease or rental period must be for 12 months or more
- The exclusion is effective July 1, according to the Florida Department of Revenue
Source: news.bloombergtax.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
