Commercial Rent Tax In Florida is Lowered for 2019 - KE Andrews
Abstract
The new rate beginning next year will be 5.5%, down from 5.7%. The business rent tax is applied to office, retail and industrial leases and can cost companies tens of thousands of dollars annually. Florida is the only state in the nation that collects sales tax on commercial leases. The tax is imposed on base rent, plus any additional rent or consideration the tenant is required to pay. Some Florida counties, including Miami-Dade, Broward, and Palm Beach, also add on a local surtax. The lower 5.9% rate would apply. If a landlord receives rent payments in 2020 for December 2019, the higher 5.6% rate will still apply.
