Small Business Support
February 16th, 2015 by flanewsAs legislative tax breaks begin to take shape, some lawmakers want to keep it local. As Matt Galka tells us, a new proposal would have you saving money down at your friendly neighborhood shop.
Joe Mezzina is cranking away at his locally owned bike shop, and lawmakers want to keep him working. Senator Rene Garcia is pedaling a proposal that would make Small Business Saturday a sales tax holiday in Florida.
“We constantly hear that small businesses are the cornerstone of our economy and about 3 million folks, 3 million employees are employed by small businesses across the state,” said the Miami Republican.
The tax break would equate to about 20 to 60 million dollars for Floridians, maybe the price of a cup of coffee for everyone in the state. But Mezzina says he supports anything that will get customers through the door.
“I’m not opposed to it, anyone saving dollars, saving 7.50 on a 100 dollars or whatever the savings is for buying a large television of course it saves a lot more money,” he said.
Unlike other sales tax holidays where only certain items get a break, this holiday would include anything from tobacco, to alcohol, to bikes.
As long at the Mom and Pop makes less than $3.3 million dollars annually they’d be eligible for the tax free holiday. Shoppers would be able to save at local places on the first Saturday after Thanksgiving.
The National Federation of Independent Businesses says sales tax holidays can make all the difference for a local business.
“It could make their day, it coule make their month, it could make their year. So many small reatailors are dependent on the Christmas holiday,” said NFIB Florida Executive Director Bill Herrle.
The bill sponsors hope Floridians include a little local flair in their holiday shopping if it passes. The sales tax holiday is not expected to bump other holidays like the popular back to school tax break
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