Florida Sales Tax On Commercial Rental Property 2024. Florida officials say plans are in place to lower the commercial lease sales tax by june 1. In december 2023 the state reduced the sales tax rate on commercial real estate lease payments, which include base rent and additional rent, from 5.5% to 4.5%.
Big news is on the horizon that could impact your leasing agreements and bottom line. January 16, 2024 kyle elliott real estate real estate blog.
As Of December 2023, This Rate Will Be Lowered From 5.5% To 4.5%.
Florida officials say plans are in place to lower the commercial lease sales tax by june 1.
Sales Tax Is Due At The Rate In Effect During The Time The Tenant Occupies The Real Property.
The latest estimates put the rate reduction to take place sometime during 2024.
Rental Charges Paid On Or After June 1 Of 2024 For Rental Periods From December 2023 To May 2024 Are Subject To The 4.5% Plus Surtax.
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Florida's General State Sales Tax Rate Is 6% With The Following Exceptions:
In december 2023 the state reduced the sales tax rate on commercial real estate lease payments, which include base rent and additional rent, from 5.5% to 4.5%.
The Current Florida Sales Tax Rate On Such Leases Is 5.5 Percent.
Published 6:27 pm et apr.