PRESS RELEASE

By Dominic M. Calabro, Florida TaxWatch President and CEO

Intangibles Tax Repeal
Repealing the intangibles tax is a most befitting way to start the new millennium. This will improve Florida’s competitiveness and foster the creation of good paying jobs. This repeal will also improve taxpayer fairness for millions of hardworking families, retirees and small business owners.

The intangibles tax has proven to be counterproductive, outdated and unfair. Years from now citizens will have to look in history books to find any mention of this antiquated, widely contested tax. After Florida’s repeal there will be few states that still have an intangibles tax. Florida TaxWatch’s Intangibles Tax Task Force was assembled at the request of legislative leaders and was chaired by David MacIntosh, CEO of Barricade International, Inc. and immediate past chairman of Florida TaxWatch. Joining Florida TaxWatch President and CEO Dominic Calabro at the press conference will be Senator Jim Horne, chair of the Senate Committee on Fiscal Resource, Rep. Ken Pruitt and financial consultant and small business owner Ramona MacKinnon.

Following two years of work by Florida TaxWatch’s Intangibles Tax Task Force we applaud Governor Bush’s recommendation.

E-Budget
Florida TaxWatch would also like to commend Governor Bush on his pioneering ‘E-budget’. This is one of the most innovative budgeting formats in the country. It brings Florida’s arcane and complex budget process into the homes of citizens statewide and creates greater taxpayer understanding, access and transparency. This is a revolutionary step in Florida where many members of the legislature haven’t previously had this type of common sense accessibility to the budget.

Florida TaxWatch is a 20-year-old statewide, non-partisan, non-profit research institution supported by homeowners, small businesses, corporations, labor unions, individuals and philanthropic foundations.