Tallahassee, Fla. – The statement below, to be attributed to Florida TaxWatch President and CEO Dominic M. Calabro, pertains to Gov. Ron DeSantis’ signage of HB 7063: Taxation, the state’s tax relief package, and the two upcoming sales tax holidays that will now be implemented on Sat., May 27 (Disaster Preparedness) and Mon., May 29 (Freedom Summer). To learn more and/or schedule an interview with President and CEO Calabro, please contact Aly Coleman Raschid at aly@on3pr.com or 850.391.5040.

Tuesday, April 18, Florida TaxWatch joins the taxpayers in our state in celebrating Florida Taxpayer Independence Day 2023. On that day, Floridians are finally earning money for themselves–not for the tax collector. This symbolic date assumes that every dollar earned since January 1 goes to pay federal, state, and local tax obligations. This measure of tax burden is based on the relative size of all taxes paid in Florida to our state’s total personal income. In 2023, on average, it takes Florida 107 out of 365 days to pay its taxes, or three and a half months. Floridians are experiencing tax collections that are growing faster than the personal income to pay for them, so it will take taxpayers four more days to achieve tax independence than it did last year, when the date was April 10. After Taxpayer Independence Day came earlier in six straight years, this is the second consecutive year the date falls later on the calendar. Independence is coming nine days later this year than in 2020, when the pandemic led to reduced tax collections.

The six percent sales and use tax is Florida state government’s largest revenue sourceby far, currently bringing in approximately $36 billion annually. When the almost $6 billion in local option sales tax collections is included with the state tax, the $42 billion total collections make the sales tax the number one tax source for all Florida governments, topping the $40 billion local property tax.

Florida’s economy is strong. If Florida were a country, its gross domestic product (GDP) would rank 14th among economies worldwide, and its ambitions do not stop there. Florida aims to be within the top ten economies by 2030. By this time, two in three jobs are expected to require specialized training, a credential, or a degree. To achieve its economic goal, Florida will need to continue developing its specialized workforce. With 120,000 students completing Florida College System (FCS) programs each year, the FCS plays a critical role in providing the talent pipeline necessary to reach Florida’s economic goal and does so at a very affordable cost to students and Florida taxpayers alike.

The annual Florida TaxWatch How Florida Compares: Taxes report ranks Florida’s state and local taxes against those levied around the nation. The nearly 40 tables, charts, and graphs in this report provide comprehensive information on state and local tax rates, tax collections, and other government revenues for all 50 states, and historical information for Florida.