Governor Signs Mainstreet Fairness, Unemployment Tax & Business Rent Tax Reductions

On Monday, the Governor signed SB 50, signing into law three of the Florida Chamber's top priorities for this session. SB 50 adopts the Wayfair decision by collecting sales tax on online retailers that are doing more than $100,000 in business in the state. This levels the playing field between brick-and-mortar businesses that pay sales tax and other taxes in Florida and their online competitors. The bill also eliminates a $713 million unemployment tax increase on Florida job creators and creates a schedule to deposit general revenue to replenish the unemployment trust fund to its pre-pandemic balance. Once the trust fund is flush, the bill provides a 3.5 percent decrease in the Florida-only business rent tax. This bill is a win-win-win for Florida’s business community, and we are grateful to the Governor for signing this important legislation and to Senator Joe Gruters and Representatives Chuck Clemons and Chip LaMarca for shepherding this bill.