Statement from John B. Zumwalt, III – Florida TaxWatch Chairman:
“I am encouraged that the Governor’s proposed budget contains several Florida TaxWatch cost-savings recommendations. This budget is a good starting point for our state Legislature to create a spending plan that benefits all Florida taxpayers.”
| Governor’s Proposed Tax Cuts (in millions) | ||
| First Year | Recurring | |
| Rollback in Motor Vehicle Fees | $312.50 | $401.30 |
| Reduction in sales tax on commercial rents (0.5%) | Â Â Â Â Â Â 107.9 | 117.8 |
| Reduced Corporate Filing Fees | Â Â Â Â Â Â Â Â 29.8 | 33.3 |
| Increased Corporate Income Tax Exemption ($75,000) | 8.8 | 21.6 |
| Sales Tax Holiday – School Supplies | 48.8 | 0 |
| Sales Tax Holiday – Hurricane Preparedness | 20.4 | 0 |
| Total* | $541.50 | $574.00 |