News Section: State Government
Steube Introduces Commercial Lease Tax Cut Legislation
BRADENTON -- Governor Rick Scott has put the word out that he's looking to cut taxes and as they return to Tallahassee for committee meetings this week, state legislators are seizing the chance to file legislation that will fit the bill.
Representative Greg Steube (R-Lakewood Ranch) introduced House Bill 11 last week, which would cut the sales tax paid on commercial leases by 1 percent each year, until it is completely abolished in 2020.
Florida is currently the only state in the country that collects taxes on commercial leases, pulling in an estimated $2 billion in revenues. Steube, who is the son of Manatee County Sheriff Brad Steube, says that not only does this cost businesses financially, but subjects them to regulatory burden not experienced in other states and argues that such a bill would help Florida become even more competitive in terms of luring businesses.
"Through this legislation, small businesses, and larger businesses such a Bealls, and Publix will be able to hire more employees and grow their businesses," said Rep. Steube in a release. "Florida would also draw outside economic interest and would no longer by hampered by a tax that hurts specifically our local employers and our local employees."
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