Florida repeals decades-old sales tax on commercial leases

Florida’s long-standing sales tax on commercial leases, commonly known as the business rent tax, will be eliminated Oct. 1 after 57 years. The repeal follows years of lobbying by business groups who argued the tax made Florida less competitive. First enacted in 1968, the tax rate reached 6% before being gradually reduced to 2% in 2024. The change is expected to save businesses nearly $1.15 billion this fiscal year and $1.53 billion next year. Leaders say the repeal lowers operating costs, allowing companies to reinvest in jobs, equipment and innovation. To read more, click here.