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Monday, 19 April 2021 10:36

Florida Retail Federation Thanks Governor for Supporting Florida's Retail Industry

FOR IMMEDIATE RELEASE
April 19, 2021

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Florida Governor Signs SB 50 into Law to Require Out-of-State & Foreign Retailers to Collect and Remit Florida's Sales Tax Owed on Purchases

Tallahassee, FL – Governor Ron DeSantis today signed Senate Bill 50 into Florida law. SB 50 updates Florida’s tax laws to protect consumers from an unwieldy and confusing tax obligation.

Previously, Florida was one out of two states in the nation that had not yet adopted remote seller requirements for out-of-state and foreign retailers.

"Through the passage of SB 50, Governor DeSantis and legislative leaders have acknowledged the pivotal role that the retail industry plays in supporting Florida’s families," said Scott Shalley, president and CEO of the Florida Retail Federation. "With this measure signed into law, all businesses can compete on a level playing field and continue to support the 2.7 million Floridians who work in the retail industry. Thank you, Governor DeSantis for your leadership and for providing meaningful relief to Florida retail businesses."

The legislation will allocate the revenue collected to replenish the state's Unemployment Compensation Trust Fund to pre-pandemic levels and then provide a long-term reduction in Business Rent Tax for Florida businesses.

"The tax cut on business rent is an added bonus. With this cost-savings, Florida businesses across all sectors of the economy can reinvest in their community, create jobs and grow their businesses," said Shalley. "We are also grateful for the support of Senate President Wilton Simpson, House Speaker Chris Sprowls, and bill sponsors, Senator Joe Gruters, Representatives Chuck Clemons and Chip LaMarca, for their efforts this session to support local, Florida businesses beyond the pandemic."

To read SB 50, visit: https://www.flsenate.gov/Session/Bill/2021/50.

ABOUT THE FLORIDA RETAIL FEDERATION
The Florida Retail Federation is the statewide trade association representing retailers -- the businesses that sell directly to consumers. Florida retailers provide one out of every five jobs in the state, pay more than $49 billion in wages annually, and collect and remit more than $20 billion in sales taxes for Florida’s government each year.

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