The omnipresence of smartphones has encouraged start-up companies to take advantage of the power of the mobile app. The IRS estimates that the federal government misses out on $194 billion in tax revenues a year from companies like Uber and others like it.
The debate over the “tampon tax” has sparked a healthy discussion about our state’s tax system. We hope lawmakers take advantage of the public attention on this issue to review all of the quirks and loopholes in taxation.
Few legislative decisions have been as wildly popular as Florida’s “sales tax holidays.” They have become more than just a tax break. They are a traditional back-to-school event that families plan for, neighbors talk about and businesses promote. This year’s back-to-school sales tax holiday – from August 5 through 7 – is shorter than last year and does not exempt from taxes some items previously included such as computers. But there are few tax breaks that generate such excitement among taxpayers while stimulating business activity with increased advertising and competition.
The latest Florida TaxWatch Economic Commentary finds that a raise in the statewide minimum wage to $15 an hour would likely harm Florida businesses and the job market. Florida TaxWatch estimated that businesses employing minimum wage workers in the state of Florida could see a nearly $2 billion increase in labor costs. This conservative estimate only accounts for workers currently making minimum wage, but an increase of the minimum wage to $15 an hour would raise the cost of wages for nearly half of Florida’s workforce.
Wednesday, April 20 Florida TaxWatch celebrates Florida Taxpayer Independence Day 2016: the day Floridians are finally earning money for themselves and 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. In 2015, for the average Florida household, paying its taxes takes 110 out of 365 days, or more than three and a half months.
This report addresses whether Florida should broaden its sales tax base by reducing exemptions as a funding mechanism for growth. Chairman Philip D. Lewis and
By 1986, Florida TaxWatch was firmly established as the state’s sole nonpartisan tax-and-spending watchdog, operating without lobbying and funded entirely by voluntary member contributions. The
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