9 Actions Florida Should Take to Help Taxpayers Impacted by Hurricane Ian

1.     Postpone tax notices and waive penalties or interest for late tax filings in affected areas

2.     Extend the date for residents to take advantage of the tax discounts they would normally receive for paying property taxes and special assessments in November and postpone or defer the deadline for property tax installment payments

3.     Protect individual and business taxpayers from the risks for notices that they will likely not receive because their home or business addresses is not accessible anymore

4.     Issue no new audits in severely impacted areas, extend the statute of limitations and postpone existing audits that haven’t reached the assessment stage because these can’t be responded to while entire communities are still recovering

5.     Create procedures for fairly estimating taxes which can’t be calculated because records have been destroyed by the storm, moving away from the current method which significantly overestimates activity if no records are available

6.     Initiate procedures to offer payment plan assistance for late taxes, rather than resorting to the standard collection methods, like liens, levies, or bank freezes

7.     Retroactively apply the recently passed law that provides property tax refunds for residential property rendered uninhabitable as a result of a catastrophic event

8.     Provide tangible personal property relief and allow n on-residential properties rendered uninhabitable to receive property tax refunds

9.     Get Congress to pass a Disaster Tax Relief Act that includes provisions from past packages, including elements such as an Employee Retention Credit, an enhanced casualty loss deduction, and other relief provisions

Other Resources

Florida TaxWatch Statement on Hurricane Ian Recovery

Community Involvement

/ Categories: Blog

International Trade a Boon for Florida's Economy

Since the early days of humanity, people have traded for goods or services that they needed. In today’s world, the power of trade has been magnified and, with the rise of technology, has made many around the world better off. With the global economy expected to double in the next 20 years, it is crucial that Florida continues to take advantage of the opportunities presented by international trade.

Harnessing its economic prowess and access to the world’s top ports, Florida has become the 7th largest exporter in the country, with Brazil, Canada and Switzerland being the top markets for Sunshine State goods. Additionally, Florida’s exports accounted for 7.4 percent of state GDP in 2013, and the state has seen its exports grow more than 10 percent since 2003.

Florida’s exports aren’t the only economic metric that have been boosted by the state’s increased trading portfolio. As a result of Florida’s trading partnerships with their home countries, foreign businesses have poured millions into the state in direct investments that have resulted in new opportunities for Floridians and accounts for about 17 percent of the state’s economic activity.

International trade also plays a large role in job creation and has created millions of jobs directly and indirectly related to trade. International trade supports more than 2.4 million jobs for Floridians and the percent of jobs tied to trade has increased from 10.9 percent in 1992 to 22.7 percent in 2013. Without trade, Florida’s job market would be vastly different and many Floridians would be left without a job.

International trade should grow even further as barriers to trade, both physical and policy, are knocked down. A great example of this is the widening of the Panama Canal. Prior to the improvements to the canal, many larger cargo ships were unable to pass through the canal. This prompted many U.S.-bound ships to unload on the west coast of the United States. With the expansion, these ships will now be able to dock at Florida ports, boosting our economy further. The widening of the canal will result in more than $7 billion pouring into Miami’s local economy alone. That number is expected to be much larger on a state-wide level.

It is clear that international trade is a crucial component of Florida’s economy. In order for Florida to remain competitive in the global marketplace, it should find new strategic trading partnerships, shore up its transportation infrastructure, and entice businesses overseas to establish themselves in the Sunshine State. Doing so would allow Florida to remain among the leaders in international trade and continue to diversify the state economy.

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