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Monday's Afternoon Update
What you need to know about Florida today
Florida's online tax plan moving forward amid stimulus
A windfall of federal stimulus money won't slow a deal between state House and Senate leaders that includes requiring out-of-state online retailers to collect sales taxes on purchases made by Floridians. Florida economists have estimated that the sales-tax collection proposal could generate $973.6 million in state general revenue in the upcoming 2021-2022 fiscal year and $1.08 billion in each following year. More from the News Service of Florida.
Florida gas prices hit 3-year high at $2.91 per gallon
For the first time in three years, gas prices in Florida are averaging more than $2.90 per gallon. Florida drivers are now paying $2.91 per gallon, the highest daily average price since May 2018, AAA says. Florida gas prices have now reportedly increased by more than 70 cents since Jan. 1, and 30 cents since the start of March. According to AAA, the upward trend is largely driven by tightening global supply and an optimism that COVID-19 vaccinations will boost fuel demand. More from WFLA.
Hurricane Facts: When did Florida first give a hurricane supply sales tax break?
Florida legislators are preparing a bill to once again enact the Disaster Preparedness Tax Free Holiday ahead of the upcoming hurricane season. If the bill, SB 734, passes, it will be the ninth time Florida has temporarily done away with the state sales tax for disaster supplies. Florida’s sales tax makes up a large portion of state revenue, with receipts accounting for approximately 79% of general revenue in fiscal year 2019 - 2020, according to the state Legislature. So, what event in the state’s history caused legislators to temporarily suspend a major source of state income? More from the Orlando Sentinel.
A year into pandemic, an unprecedented number are calling 211 for help in Sarasota-Manatee
Requests logged by Suncoast 211 – which encompasses Sarasota, Manatee and DeSoto counties – show unprecedented numbers of people are calling the helpline who are facing economic hardships since the start of the pandemic. The resources available have helped to stave off financial disasters for thousands, many of whom have never needed help before. More from the Sarasota Herald-Tribune.
Car rental companies in Tampa Bay face high demand, tight inventory
With more coronavirus vaccines on hand, restrictions lifting across the country and spring break in full swing, the demand for rental cars in Tampa Bay — and the cost of renting a car — are up. It’s a positive sign for rental car companies that saw demand crater in the early days of the pandemic, with Hertz filing for bankruptcy protection last May. Many companies sold off vehicles, unsure of when business would turn around, said Jonathan Weinberg, founder and chief executive of the rental booking and tracking site AutoSlash.com. But now that travelers are back, rental car companies are scrambling to assemble enough car inventory to match demand. More from the Tampa Bay Times.
Business Profile
Paragon Flight Training
Paragon Flight Training recently signed a 10-year contract with the Lee County Port Authority, a move that will triple its aircraft fleet operations at Page Field. The contact will also enable Paragon Flight Training to expand its training and aviation technology services, according to a statement. On the equipment, the flight academy intends to grow its fleet from 15 aircraft to 45 to 55 within five years. It also plans to purchase and renovate a 14,000-square-foot hangar that will be used as a maintenance hub for the growing fleet.
» More from the Business Observer.
Out of the Box
At historic Tampa church building, they worship cigars
A religious service has not been held in the 115-year-old First Congregational Church building for decades. But it still feels like a place of worship, with the deity being Arturo Fuente, the international cigar company rooted in Tampa. Fuente cigar labels are displayed on stained glass windows. Fuente family photos adorn wall space throughout the four-story, 8,000-square-foot building. Fuente ashtrays sit on tables. There are even Carlos Fuente, Jr. bobbleheads for sale.
» Read more from the AP.
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