TAX ADMINISTRATION UPDATES

Mooresville, Alabama - Avenu Insights & Analytics (formerly RDS) will administer the town’s new sales and use taxes starting June 1, for reporting on or after July 1, 2024.


Florida
The Florida commercial rental tax is reduced from 4.5% to 2% effective June 1, 2024. This sales tax is imposed on the total rent charged for renting, leasing, letting or granting a license to use real property (“commercial rentals”) which includes rentals of commercial office or retail space, warehouses, and self-storage units or mini-warehouses.

The following tax category will now calculate tax at a rate of 2%:
Lease and Rentals > Commercial real property (for use in Florida only)

South Carolina
On May 13, 2024, the Governor of South Carolina signed H. 3563, which creates an exemption for feminine hygiene products. This law change is effective upon signature. Feminine hygiene products are defined in South Carolina as: tampons, sanitary napkins, and other similar personal care items for use in connection with the menstrual cycle. All relevant tax categories have been changed to exempt. The Department of Revenue has advised taxpayers that, “Beginning with the May 2024 Sales Tax return (due June 20, 2024), retailers should report all sales of feminine hygiene products made on or after May 13, 2024, as Exempt Sales deductions (4167) on line 4 of your return.”

SALES TAX HOLIDAYS

Florida
The Disaster Preparedness sales tax holiday begins in Florida on June 1st and is scheduled to take place through June 14th. Qualifying tax categories have been updated to reflect exemptions for the varying thresholds during this holiday. More details regarding this holiday, as well as all applicable thresholds, can be found on the Florida Department of Revenue website in Tax Information Publication #24A01-04.

Puerto Rico
Puerto Rico’s annual Hurricane Preparedness Sales Tax Holiday will be held from Friday, May 24, 2024 to Sunday, May 26, 2024. During this holiday, the applicable Disaster Preparedness Supply categories listed under the Sales Tax Holidays grouping will be exempt.

 



Sunday, June 9, 2024

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