Senator Annette Taddeo presented a bill of law which would allow the small businesses opt out of collecting sales tax as a way to boost business after the Thanksgiving day season.
MiamiDiario Newsroom
According to the parliamentarian's proposal, the sales tax exemption would apply for one day - the Saturday following Thanksgiving - a date known as "Small Business Saturday«, He highlighted floridapolitics.com.
The company American Express has promoted the Small Business Saturday campaign -which dates back to 2010- as a way to encourage customers to visit and make their Shopping for Christmas gifts in smaller storess.
In Taddeo's legislative proposal, called SB 1052, it is also considered to offer a financial incentive to residents from Florida.
Another aspect to which SB 1052 refers is that stores will not be required to waive collection of sales tax. But for those who do, they will be able to offer an effective discount to buyers, who will get a 6% price cut when they hit the stores.
Taddeo hopes that this bill will ensure that small businesses are not left behind in sales during the holidays.
In this regard, the senator commented, "I would like to promote more local purchases in small businesses by making Small Business Saturday a tax free holiday«.
Sales tax exemption will be in effect from 12:01 am on November 28, 2020 until 11:59 pm on November 28.
Taddeo's bill would also allocate $200.000 in non-recurring funds from the General Revenue Fund to the Department of Revenue to cover costs associated with the old sales tax.
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