- Florida Department of Revenue released Tax Information Publication (TIP) 24A01-02 on April 8, 2024
- State sales tax rate on commercial leases of real property in Florida will decrease from 4.5 percent to 2.0 percent effective June 1, 2024
- Reduction does not apply to local taxes imposed at the county level
- Rental charges paid on or after June 1, 2024, for rental periods prior to that date, are subject to the current 4.5 percent sales tax
- Rental charges paid prior to June 1, 2024, for rental periods on or after June 1, 2024, are subject to the lower 2 percent sales tax
- Florida sales tax rate on short-term residential accommodations with a duration of six months or less is not impacted by this change
Source: mondaq.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.
