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New legislation significantly reduces burden of parents with children attending school

As part of the Work Plan 2015, the Florida Senate Committee on Appropriations passed House Bill 33-A Taxation which reduces cell phone and television taxes. With Florida’s Communications Service Tax being one of the highest in the country, such reduction will render considerable monthly savings for many families. This bill also establishes a 10-day back- to- school sales tax holiday, and it removes the sales tax on college textbooks for one year.

Senator Tom Lee, chair of the Florida Senate Committee on Appropriations, said :

“Families incur a significant expense while preparing to send children back to school or off to college. The Senate’s tax cut package will lessen this burden on Floridians throughout our state as they purchase college textbooks and meal plans for the school year as well as clothing and other items purchased during a 10-day Back-To-School Sales Tax Holiday this summer.”

This new legislation provides $400 million in tax relief, which include the aforementioned specifics, along with the removal of the sales tax on prepaid college meal plans and school concessions. Additionally, House Bill 33-A builds on the current Community Contribution Tax Credit Program, which issues tax credits for any project that creates housing opportunities for persons with special needs.

The year prior, Florida passed a GI Bill, making Florida the ‘Welcome Home State’ for all active duty military members and their families. This amendment to HB 33-A makes sure the servicemen and women coming home from overseas are not greeted with a hefty tax bill for vehicles purchased while they were serving our country.

While this new bill does seek to ease financial pressures on Florida residents, there are still families struggling to stay afloat. If you are one of those families in need of some guidance or have ever contemplated bankruptcy, you need an experienced bankruptcy lawyer in Florida by your side. Kelley & Fulton invites you to set up an initial consultation with one of our experienced bankruptcy attorneys and get started on your case today.