The state of Florida has just passed the largest tax relief bill in its history: Gov. Ron DeSantis signed HB 7071, a tax relief bill that will provide more than $1.1 billion in tax relief. The legislation will eliminate a variety of taxes and extend tax-free periods for items like diapers and sports equipment for children. In addition, consumers will no longer have to pay sales tax on essential household items that cost $25 or less.IRS tax relief services
In addition, the new tax law includes favorable policies for businesses, which double as campaign donors. This means that businesses will benefit from tax breaks that will lower their costs and help boost their bottom line. The tax break legislation also extends the existing tax relief program to include more people and expand it. In addition, it will give a $300,000 exemption to Florida Power & Light for green hydrogen machinery.
Tax relief is also available for Florida residents whose property losses were caused by hurricanes. In many cases, disasters can qualify a homeowner for tax relief, including federal disaster protocols. After the storm, the Federal Emergency Management Agency (FEMA) declared the entire state as a Federal Disaster Area. This means that tax breaks may be available for all homeowners and businesses in Florida.
Commuters may also benefit from a proposed toll relief plan. Under this plan, drivers who use toll roads more than forty times in a month would get a 50 percent discount. Ultimately, this measure could save the average commuter nearly $550 a year.
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