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Tax Commission Targets State Exemptions

February 11th, 2008 by flanews

You could soon be paying more for hundreds of items that are tax exempt in Florida. The states budget and tax reform commission is discussing changing tax laws. As Whitney Ray tells us, the higher costs might be a trade off for lower property taxes.

Hear it here: Tax Commission Targets State Exemptions

From realtors commissions to hundreds of other items in Florida, the price you see is the price you pay. Sales tax isnt added at check out. Costumers at Eastwood Pharmacy dont have to pay taxes on band-aids, antacids, and pain relievers. The storys the same across the state. For decades Floridians havent paid taxes on everything from advertising to prescriptions.

Its not unusual to have three and 400 dollar prescription, and If look at a 7 percent fee on a 700 dollar prescription; youre looking at a decent amount of money, said Rick Bradford, owner of Eastwood Pharmacy.

Monday, the Taxation and Budget Reform Commission met to discuss eliminating some sales tax exemptions.

Its adequate to evaluate all the exemptions and see which ones, like skybox sales tax on skyboxes, benefit just a select few and not all Floridians, said commission member John McKay.

If approved by the commission and eventually voters, the increased cash from eliminating exemptions would be used to offset the school funding portion of your property taxes. The Taxation and Budget Reform Commission meets every 20 years. The commission has the power to put tax law changes on the November ballot.

Posted in Elections, Property Taxes, State News | 1 Comment »

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