NAVIGATION

May 28, 2017

Tallahassee Trend - The Amendments

Florida Amendment 10 - Small Business Tax Break

About 150,000 businesses would benefit from the increased tax exemption.

Amy Keller | 9/4/2012

Main Sponsors: Sen. Nancy Detert (R-Venice) and Rep. Eric Eisnaugle (R-Orlando)

Title: Tangible Personal Property Tax Exemption

What It Does: Creates an additional exemption on tangible personal property valued at more than $25,000 but less than $50,000. It also authorizes counties and municipalities to provide additional exemptions by ordinance.

Background: In Florida, businesses are required to pay taxes on machinery, office furniture, computer equipment and other items of “tangible personal property” that they own. The measure would increase the existing tax exemption from $25,000 to $50,000. About 150,000 businesses would benefit.

Proponents: NFIB Florida; Gov. Rick Scott; Florida Chamber of Commerce; Associated Industries of Florida; Manufacturers Association of Florida; Florida League of Cities; Florida Association of Counties. The amendment passed 40-0 in the Senate and 112-2 in the House.

Opponents: Democratic Progressive Caucus of Florida

Budget Impact: Beginning in fiscal year 2013-14, it will cost local governments $20.1 million

» See all of Florida's 2012 Amendments here.

Tags: Politics & Law, Florida-Amendments-2012

Digital Access

DIRECT DIGITAL ACCESS
Add digital to your current subscription, purchase a single digital issue, or start a new subscription to Florida Trend.

TABLE OF CONTENTS
An overview of the features and articles in this month's issue of Florida Trend.

ACCESS THIS ISSUE »

Florida Business News

Florida Trend Video Pick

R/V W.T. Hogarth Christening Ceremony
R/V W.T. Hogarth Christening Ceremony

With the crack of two bottles of champagne and the blessing from a local priest, Florida’s newest research vessel, the R/V W.T. Hogarth, was christened and launched for the first-time this week. The W.T. Hogarth will be used by the University of South Florida as well as more than two dozen institutions across the state.

Earlier Videos | Viewpoints@FloridaTrend

Ballot Box

Florida Memorial Day travel is expected to hit a 12 year high, are you traveling this weekend?

  • Yep!
  • Nope...

See Results

Ballot Box
Subscribe