What you need to know about Florida today
At the end of 2012, approximately $500 billion in tax breaks will expire unless Congress takes action, but there’s still uncertainty about what federal legislators will do. Despite the uncertainty, experts say there are tax and estate planning strategies to implement before the end of the year.
Was Jerry Williams too eager to save his bank -- or himself? Story.
» More Shoes to Drop?: A handful of criminal charges have been filed in the aftermath of banking failures. More are likely to follow.
» Florida banking on the mend [Sarasota Herald-Tribune]
The Sunshine State is Uncle Sam's favorite. Florida receives more federal funds than any other state, both in total dollars and on a per capita basis. In fact, based on total volume, Florida's take is 50 percent higher than No. 2 Texas. Read more from the Tampa Bay Times and see the report.
Led by a resurgent building industry, Florida businesses’ sales jumped 9 percent in July. Overall, Florida’s $70.4 billion in total sales surpassed an old record of $68.6 billion set in July 2008, providing further proof that the state’s economy has finally recouped what it lost during the downturn. [Source: Sarasota Herald-Tribune]
While South Florida is home to great wealth, it’s not necessarily the kind that goes into startups. Many investors here have never invested in early-stage companies and don’t want to take the risk. And even when they do, it’s not necessarily “smart money,” leaders say. Ideally, robust tech ecosystems are rich with investors that share their tech expertise as well as their wealth to get startups going. [Source: Miami Herald]
Auto insurance companies say the state's new no-fault auto insurance law will save drivers money by staving off insurance premium increases. But drivers shouldn't expect their insurance bill to dip immediately, either. Read more from the Tampa Bay Times and WTSP.
ALSO AROUND FLORIDA:
› In Delray, smokers need not apply
It's official. If you puff, you can't work — at least in Delray Beach. The city will no longer hire employees who regularly use tobacco products, including cigarettes, cigars, snuff or pipes. Smokers can cost a company or government agency an average of $12,000 a year in health and disability-related costs.
› Foreclosures fuel rising tensions between landlords and tenants
When you mix novice landlords with growing numbers of renters, the results are sometimes not pretty — especially in a housing market where eviction notices continue to land on foreclosed rental properties with some frequency.
› Sarasota Sheriff wants doctors to have patients sign away rights
Doctors who prescribe pain medications sometimes find themselves in a tough spot: they may want to report suspicious or clearly illegal behavior by patients, but they are prevented from doing so by the sweeping federal medical privacy law known as HIPPA. Administrators with the Sarasota County Sheriff's Office thought they had found an easy way to learn more about medical patients who might be breaking the law to get pills.
› Plan for new launchpad worries environmentalists
New plans to convert an abandoned citrus town into a Space Coast rocket hub has triggered another round of fighting between environmentalists and the aerospace industry — and this time the rocketeers could have an edge.
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