A Sales Tax Holiday for Small Businesses
- Dec 31, 2016 | Gail Cole
Update 11.30.2016: The bill died.
Just before Christmas, Florida Senator Rene Garcia (R) introduced legislation that would create a sales tax holiday for small businesses on the Saturday after Thanksgiving.
Senate Bill 1236 is similar to legislation introduced last spring, which died in committee. The new bill defines small business as one that owed and remitted less than $200,000 in total sales tax during the 1-year period ending June 30, 2016. The sales tax holiday is proposed for November 26, 2016.
Small Business Saturday Sales Tax Holidays are being championed by lawmakers in Florida and Texas, although to date, neither state has enacted legislation to create one.
Sales tax holidays tend to be popular among consumers but can create headaches for retailers. Learn how sales tax software can help simplify tax compliance.