Estate and Succession Planning
Dean Mead’s Estate and Succession Planning Department is one of the largest and most respected groups of estate planning attorneys in Florida. We are frequently…
Published: May 30, 2024
On April 8, 2024, the Florida Department of Revenue released Tax Information Publication 24A01-02 which reduces state sales tax due on all rent for commercial properties from 4.5% to 2.0%, effective on June 1, 2024. This new tax rate affects all rental payments for occupancy occurring after June 1st regardless of when rent is paid. This tax rate applies to the “total rent” charged for rentals of commercial retail or offices, warehouses, self-storage units, and mini-warehouses. This reduced tax rate does not apply to residential properties, including short-term residential rentals.
Commercial tenants will still be obligated to pay county tax on commercial rent, which varies dependent on the county where the real property is located. Review the current sales tax rates for Florida counties by clicking HERE.
