Bill > S0140

This bill amends Florida Statute 212.031 to reduce the state tax levied on rental or license fees charged for the use of real property from 6 percent to 5 percent. This change applies to payments for the privilege of using or occupying real property, including base rent, percentage rents, or similar charges, and also applies when such fees are paid in the form of property, goods, or services. The bill clarifies that payments for intrinsically valuable personal property, such as franchises or trademarks, are not subject to this tax, and if a contract includes both taxable and non-taxable payments, the tax will be based on a reasonable allocation of those payments, not applying to the non-taxable portion. This reduction in tax is set to take effect on January 1, 2016.