The Florida Department of Revenue has issued a bulletin reminding taxpayers that effective January 1, 2020, the sales tax rate imposed on renting, leasing, letting, or granting a license to use real property is decreased from 5.7 percent to 5.5 percent. Sales tax is due at the rate in effect during the time a tenant occupies, or is entitled to occupy, real property— regardless of when the rent is paid. Rental charges paid on or after January 1, 2020, for rental periods prior to January 1, 2020, are subject the 5.7 percent state sales tax, plus any applicable discretionary sales surtax. Rental payments made prior to January 1, 2020, that entitle the tenant to occupy the real property on or after January 1, 2020, are subject to 5.5 percent state sales tax, plus the discretionary sales surtax (if applicable). For more information on the rate decrease, please contact Lisa Civitella at 954-847-3944.
To view past weeks of TWIST that you may have missed, please visit our TWIST homepage.
To receive the TWIST e-mail each Monday, make sure that State and Local Tax is checked off as one of your topics of interest on the KPMG Tax subscription site.