Tèks PBF nan 787753

Corporate income-tax raise should be only the beginning

Good news: Florida’s corporate income tax (CIT) rate has returned to 5.5 percent. This is the level it was at for 35 years before state lawmakers temporarily reduce it in 2018. The law reducing the rate was originally supposed to expire in 2019, but state lawmakers extended it twice, with a sunset date of Jan. 1, 2022. Unfortunately, our state has lost out on more than $1.8 billion in revenue during these past few years that could have otherwise been invested in Florida families and communities.

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