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Wednesday, January 17, 2018

Small Change That Benefits Florida Commercial Tenants

With the Florida legislature just beginning its 2018 session, it is a good time to look back on one of the benefits that the business community reaped from the 2017 session. The 2017 legislature reduced the lease tax rate that businesses pay on commercial space. Effective January 1, 2018, the lease tax rate was reduced from 6% to 5.8%.  It is not a big deal, but it makes a difference.

If you are a tenant, it is important to check your monthly bills to ensure that your tax rate has been adjusted to the new rate. On a typical $2,500 monthly lease payment, it is equivalent to a $5.00/month or $60/year rent reduction. Not a lot, but every little bit helps.

If you are a landlord, you need to adjust the rate or possibly be forced to refund the difference if the Department of Revenue reviews your returns. 

For any questions about commercial tenancies, please feel free to contact Patrick Neale at Patrick Neale & Associates – www.patrickneale.com – 239-642-1485.




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© 2018 Patrick Neale & Associates | Disclaimer
5470 Bryson Court, Suite 103, Naples, FL 34109
| Phone: 239-642-1485
(By appointment) 950 North Collier Blvd., 4th Floor, Marco Island, FL 34145
| Phone: 239-642-1485
Mailing Address: P. O. Box 9440, Naples, FL 34101-9440
| Phone: 239-642-1485

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© 2015 Patrick Neale & Associates | Disclaimer
5470 Bryson Court, Suite 103, Naples, FL 34109
950 North Collier Blvd., 4th Floor, Marco Island, FL 34145 (hours by appointment)
Mailing Address: P. O. Box 9440, Naples, FL 34101
Phone: 239-642-1485 | Fax: 239-642-1487
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