Florida will reduce its commercial lease sales tax from 4.5% to 2% on June 1, providing employers with at least an estimated $1 billion in tax relief, FloridaCommerce officials announced. The move came because of $1 billion being added to the state’s revenue after Gov. Ron DeSantis signed Senate Bill 50 in 2021, which requires online retailers to collect sales taxes from consumers. Starting in July 2022, Florida began replenishing its Reemployment Assistance Trust Fund after the increase in reemployment assistance benefits payments nearly depleted it in 2020 during the COVID-19 pandemic. The Florida Department of Revenue directed by the Florida Legislature, distributed $90 million monthly to replenish Florida’s trust fund, and as of March 21, the trust reached the $4.1 billion threshold. Since the threshold was met, it led to the state reducing the tax.