BUSINESS OWNERS HAVE ENOUGH ON THEIR PLATE, LEGAL AND TAX MATTERS SHOULD BE RESERVED FOR THE PROFESSIONALS.

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When it comes to taxes and filing requirements, even small mistakes can lead to costly penalties, audits, or legal complications. At The Penza Law Firm, we provide expert legal guidance to ensure your filings are accurate, compliant, and strategically aligned with your financial goals.

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Remployment Tax

Reemployment tax is paid by employers and the tax collected is deposited into the Unemployment Compensation Trust Fund for the sole purpose of paying reemployment assistance benefits to eligible claimants. Only the first $7,000 of wages paid to each employee by their employer in a calendar year is taxable. Employers with stable employment records receive reduced tax rates after a qualifying period. The Florida Department of Revenue has administered the reemployment tax since 2000. The Department registers employers, collects the tax and wage reports due, assigns tax rates, and audits employers.

Every state has an Unemployment Compensation Program. In 2012, legislation passed in Florida changed the name of Florida’s Unemployment Compensation Law to the Reemployment Assistance Program Law. The focus of the program was redirected to help Florida's job seekers become reemployed.

The Florida Department of Commerce (Commerce) administers reemployment benefits, which provide temporary income to workers who lose their jobs through no fault of their own and who are able and available for work. All benefit questions, including questions about reemployment benefits, benefit charges, and reporting fraudulent claims, should be addressed to Commerce. Visit Commerce's website, http://www.floridajobs.org/job-seekers, for more details.

Sales Tax

Each sale, admission, storage, or rental in Florida is taxable, unless the transaction is exempt. Sales tax is added to the price of taxable goods or services and collected from the purchaser at the time of sale.

Florida's general state sales tax rate is 6% with the following exceptions:

• Retail sales of new mobile homes - 3%

• Amusement machine receipts - 4%

• Rental, lease, or license of commercial real property - 2%

• Electricity - 6.95%

Use Tax

Use tax is due on the use or consumption of taxable goods or services when sales tax was not paid at the time of purchase. For example:

• If you buy a taxable item in Florida and did not pay sales tax, you owe use tax.

• If you buy an item tax exempt intending to resell it, and then use the item in your business or for personal use, you owe use tax.

• If you buy a taxable item outside Florida and bring it into (or have it delivered into) Florida, and you did not pay sales tax on the item, you owe use tax.

Discretionary Sales Surtax

Many Florida counties have a discretionary sales surtax (county tax) that applies to most transactions subject to the sales or use tax. The county surtax rate applies to a taxable item or service delivered into a county imposing a surtax. (The surtax rate that applies to motor vehicles and mobile homes is determined by the home address of the purchaser.) For a list of discretionary sales surtax rates, visit the Department's Forms and Publications webpage and select the current year Discretionary Sales Surtax Information (Form DR-15DSS) under the Discretionary Sales Surtax section, updated yearly in November.

For certain transactions, only the first $5,000 of a taxable sale or purchase is subject to the discretionary sales surtax.

Transient Rental Taxes

In addition to state sales and use tax and discretionary sales surtax, Florida law allows counties to impose local option transient rental taxes on rentals or leases of accommodations in hotels, motels, apartments, rooming houses, mobile home parks, RV parks, condominiums, or timeshare resorts for a term of six months or less. For a list of local option transient rental taxes, visit the Department's Local Option Taxes webpage.

In many counties, the local transient rental taxes are reported and remitted directly to the local government; however, sales tax and discretionary sales surtax on transient rentals are always reported and remitted to the Department. View a list of the Local Option Transient Rental Tax Rates (Tourist Development Tax Rates) (Form DR-15TDT ).

Corporate Income Tax

The Florida corporate income/franchise tax is imposed on all corporations for the privilege of conducting business, deriving income, or existing within Florida. Corporations, including entities that are taxed federally as corporations, are subject to the tax.

A corporation’s federal income, as adjusted by Florida additions, subtractions, and adjustments, is apportioned to Florida based on the corporation’s activities in Florida compared to its activities everywhere. In most cases, this comparison includes the corporation’s property, payroll and sales.