Small business ‘tax holiday’ proposed

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Discounts for shoppers would be offered through a sales-tax "holiday" at small businesses on the Saturday after Thanksgiving, under a pair of bills filed Monday for the 2022 legislative session, which will start in January. 

The bills (SB 712 and HB 439) by Sen. Annette Taddeo, D-Miami, and Rep. Carlos Guillermo Smith, D-Orlando, would establish the “Small Business Saturday” holiday during one of the busiest shopping times of the year. 

The bill, which wouldn’t become effective until July 1, 2022, differs slightly from a version Taddeo filed in December 2020. The original bill, of which Rep. Allison Tant filed a House version, would have allowed businesses that paid less than $200,000 per year in taxes to participate in the holiday, and would have applied to goods priced $1,000 or less.

Under the current proposal, sales taxes would not be charged on items that cost $500 or less. 

Small businesses would have the option to participate in the tax holiday, which likely would be part of a larger package of tax holidays offered by the state. 

During this spring’s session, lawmakers approved a $196.3 million tax package that included tax holidays on back-to-school items, hurricane-preparation gear and entertainment and outdoor activities.

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