“Freedom Week” Sales Tax Holiday Ends July 7
During the 2021 Legislative Session, Florida lawmakers created a new sales tax holiday to provide savings on certain outdoor recreation purchases during the week of July 1 – 7, 2021. As Governor DeSantis signed the holiday into law, House Speaker Chris Sprowls highlighted the measure by saying, “Floridians deserve a summer of BBQs, fishing, boating, concerts and camping. We want to make sure everyone has the opportunity to enjoy all our state has to offer.” The purchases of admissions to music events, sporting events, cultural events, specified performances, movies, museums, state parks, and fitness facilities for events to be held from July 1 through December 31, 2021, will be tax-free in Florida. Purchases of certain annual passes and season tickets are also exempted. This sales tax holiday also applies to sales of boating and water activity supplies, camping supplies, fishing supplies, general outdoor supplies, and sports equipment.
New CPA Law and Other FICPA Priorities Take Effect July 1
The FICPA’s 2021 top legislative priority, as well as a number of other priorities impacting the profession, signed into law by Governor DeSantis took effect on July 1, 2021. Senate Bill 616 by Senator Gruters allows for CPE reciprocity, ensure ethics courses include a majority of Florida laws and rules, and clarifies “licensure-by-endorsement” requirements. Now in effect, the FICPA will begin collaborating with the Board of Accountancy on developing implementing rules for the new law.
Other FICPA Legislative Priorities in effect as of July 1:
Taxation; Citing this act as the “Park Randall ‘Randy’ Miller Act”; revising the definition of the term “retail sale” to include sales facilitated through a marketplace; requiring marketplace providers and persons located outside of this state to remit discretionary sales surtax when delivering tangible personal property to a county imposing a surtax; providing that a marketplace seller, rather than the marketplace provider, is liable for sales tax collection and remittance under certain circumstances; requiring certain amounts to be deposited into the Unemployment Compensation Trust Fund during specified periods, etc. APPROPRIATION: $353,000
Effective Date: Except as otherwise expressly provided in this act and except for this section, which shall take effect upon this act becoming a law, this act shall take effect July 1, 2021
Specifies that portions of property not used for certain purposes are not exempt from ad valorem taxation; specifies that exemptions for certain portions of property from ad valorem taxation are not affected so long as such portions of property are used for specified purposes; exempts certain multifamily projects from ad valorem taxation; requiring, rather than authorizing, tax collectors to accept late payments of prepaid property taxes within a certain timeframe; extends the expiration date of the sales tax exemption for data center property; exempts specified items that assist in independent living from the sales tax, etc.
Effective Date: Except as otherwise expressly provided in this act, this act shall take effect July 1, 2021
Prohibits insurance policies from providing specified rights of subrogation under certain circumstances; authorizes a condominium association to extinguish discriminatory restrictions; authorizes the board of administration of an association to take certain actions relating to electric vehicle charging stations and natural gas fuel stations; authorizes parties to initiate presuit mediation under certain circumstances; revises the allowable uses of certain escrow funds withdrawn by developers; authorizes certain developers to include reserves in the budget, etc.
Effective Date: 7/1 /2021