Governor Signs Senate Tax Bill

Date: April 20, 2021

NFIB State Director Bill Herrle released the following statement today in response to Gov. Ron DeSantis signing Senate Bill 50, legislation that addresses the state unemployment trust fund and a tax on business rentals:

“On behalf of our members, I want to thank Governor DeSantis for signing Senate Bill 50 into law. SB 50 a big win for Florida’s small businesses. Under SB 50, unemployment insurance tax rates will return to pre-COVID-19 levels, and Florida’s onerous tax on business property rentals will be on track to fall from 5.5% to 2% once the Unemployment Insurance Trust Fund is financially sound.

“The pandemic created real hardships on small business owners. Between the temporary shutdowns and a drop in business and leisure travel, many businesses had to lay off workers to save their businesses from permanently shutting down. These layoffs led to a big increase in drawdowns from the unemployment trust fund, which triggered a tax hike on employers. Some owners are seeing a doubling or tripling of their unemployment taxes.

“By replenishing this trust fund, Senate Bill 50 will relieve some of the financial pressure on Florida’s job creators.”

 

 

Related Content: Small Business News | Florida

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