Client Alert: Florida Tax Holiday

Download Client Alert: Florida Tax Holiday

Floridians will now have access to new and extended tax breaks under the recently approved HB 7061. The bill, which is designed to make tax improvements for both families and businesses, was signed into law by Governor DeSantis on Friday at a Home Depot. The $200 million bill extends existing tax holidays and cre­ates new ones, such as the disaster preparation and “Freedom Week” holidays taking place in the upcom­ing months.

May 28th will kick off the new pre-hurricane season holiday, providing tax breaks on disaster preparation items through June 6th. Floridians will not have to pay sales taxes on tarps under $100, flashlights under $40, radios under $50, gas tanks under $50, and generators under $1,000, among other items purchased to pre­pare the home for hurricane season. For a full list of tax exempt items from May 28 – June 6th, visit this link.

Freedom Week will be held from July 1st-7th and con­sumers will be encouraged to spend money on cultur­al and artistic enrichment, such as concerts, as well as outdoor supplies for camping and hiking. The Freedom Week holiday is intended to celebrate the lifted COVID restrictions and the impending return to “normal.”

Freedom Week tax breaks include the following ad­missions, which must take place between July 1, 2021, and December 31, 2021:

  • A live music event
  • A live sporting event
  • A movie shown in a movie theater
  • Entry to a museum, including annual passes
  • Use of or access to state parks, including annual passes
  • Entry to a ballet, play, or musical theatre performance
  • Season tickets to ballet, play, or musical theatre performances
  • Entry to a fair, festival, or cultural event
  • Use of or access to gyms and physical fitness facilities between July 1, 2021, and December 31, 2021

Freedom Week tax exempt items include:

  • $5 or less
    • Fishing Supplies: bait or fishing tackle, if sold per item
  • $10 or less
    • Fishing Supplies: bait or fishing tackle, if multiple items are sold together
  • $15 or less
    • General Outdoor Supplies: sunscreen or insect repellant
  • $25 or less
    • Boating and Water Activity Supplies: snorkels, goggles, and swimming masks
  • $30 or less
    • Camping Supplies: camping lanterns or flashlights
    • Fishing Supplies: tackle boxes or bags
    • General Outdoor Supplies: water bottles
  • $40 or less
    • Sports Equipment: any item used in individual or team sports, not including clothing or footwear
  • $50 or less
    • Boating and Water Activity Supplies: safety flares
    • Camping Supplies: sleeping bags, portable hammocks, camping stoves, and collapsible camping chairs
    • General Outdoor Supplies: hydration packs, bicycle helmets
  • $75 or less
    • Boating and Water Activity Supplies: life jackets, coolers, paddles, and oars
    • Fishing Supplies: rods and reels, if sold individually
  • $100 or less
    • General Outdoor Supplies: sunglasses
  • $150 or less
    • Boating and Water Activity Supplies: water skis, wakeboards, kneeboards, and recreational inflatable tubes or floats capable of being towed
    • Fishing Supplies: rods and reels, if sold as a set
  • $200 or less
    • Camping Supplies: tents
    • General Outdoor Supplies: binoculars
  • $250 or less
    • General Outdoor Supplies: outdoor gas or charcoal grills, bicycles
  • $300 or less
    • Boating and Water Activity Supplies: paddleboards and surfboards
  • $500 or less
    • Boating and Water Activity Supplies: canoes and kayaks

 

 

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