Florida governor signs ‘tax holidays’ into law
TALLAHASSEE, Fla. (AP) – Florida Governor Ron DeSatis has agreed to temporarily suspend sales taxes on back-to-school supplies, emergency preparedness purchases and recreational activities intended to encourage people to return to outdoors, music halls, museums and other post-pandemic efforts.
But the so-called “tax holidays” DeSantis signed on Friday are offset by taxes the state will now collect on online purchases. The state is expected to collect around $ 1 billion a year through online sales tax collection. A portion of the first proceeds would be transferred to the state unemployment trust fund and reduce unemployment taxes for businesses.