Effective January 1, 2018, the state sales tax rate for renting, leasing, or granting a license to use real property decreases from 6% to 5.8%. Your county surtax will remain the same; for example:
If your commercial property is in Seminole County, the rate will drop from 7% (state and county) to 6.8%. If you are in Orange County, the rate will drop from 6.5% to 6.3%.
Please adjust your commercial rental contracts to reflect the new sales tax rate effective next year.
Major taxes collected in Florida include sales and use, intangible, estate, property, and corporate income taxes.
Click here for a Quick Look at Florida Taxes.
Stay updated on local tax policies and ensure you benefit from the upcoming decrease in real property taxes. Call us today.
About The Author
I am a Certified Public Accountant (CPA) and earned my Master’s in Taxation from the University of Central Florida in 1991. As Managing Partner of Howard, Howard & Hodges, I have dedicated my career to helping individuals and businesses navigate the complexities of tax, accounting, and financial planning. Beyond public accounting, I have been fortunate to help build and lead several successful businesses, including Chin Motorsports Inc, Payroll Partners, and Auto Vault Orlando
