Freedom Week could save Floridians more than $57 million
"Freedom Week" could save Floridians a little more money this year. Economists have estimated that a proposal to hold a Freedom Week sales tax holiday could save Floridians about $57.7 million.
Shoppers could avoid paying sales tax on a variety of items, including grills, bicycles, fishing and camping gear, kayaks and canoes, tickets to concerts, movies and ball games, gym memberships and even sunscreen.
Lawmakers last year approved the first Freedom Week, held around the Independence Day holiday weekend. Economists estimated that last year's Freedom Week would reduce state revenue by $42 million and local revenue by $12,7 million.
For the next year, the tax breaks are expected to cut approximately $44,5 million from state revenue and $13,2 million from local governments.
As part of his $1 billion budget proposal for the fiscal year beginning July XNUMX, Governor Ron DeSantis included a seven-day fiscal holiday during Freedom Week in December.
Lawmakers could include Freedom Week in a broader fiscal package likely to be negotiated at the end of the legislative session.
Economists: 'Freedom Week' tax breaks could save Floridians $57M https://t.co/7Dh6VZNFey
– CBS4 Miami (@CBSMiami) February 2, 2022
Freedom Week 2021
A tax-free week was held from July 1 to July 7, 2021.
'Freedom Week' offered 7 days of sales tax savings on outdoor recreation purchases such as the first $100 of the sale price of sunglasses, the first $200 of the sale price of tents , as well as the first $500 of the sales price of kayaks or canoes.
In addition, sales tax was waived on admissions to events scheduled between July 1 and December 31, 2021, including live music events, sporting events, movies, ballets, fairs, festivals, among other events at fresh air.
During Freedom Week, there were also no taxes on the purchase of passes or tickets to state parks and museums.
Author: Patricia Chung 7:03 am