Florida Tax Changes - November 2024
Week Of 11.21.2024
Florida Tax Changes Effective January 1, 2025
1. Fuel Tax Rate Increases
The Florida Department of Revenue has announced increases in statewide tax rates for motor fuel and diesel fuel:
- Motor Fuel:
- State tax rate increases to 21.5¢ per gallon (up from 21¢).
- State Comprehensive Enhanced Transportation System (SCETS) tax increases to 9.7¢ per gallon (up from 9.4¢).
- Inspection fee remains at 0.125¢ per gallon.
- Diesel Fuel:
- Total combined county and state tax rate increases to 38.2¢ per gallon (up from 37.4¢).
- Aviation Fuel:
- State tax rate remains at 4.27¢ per gallon.
- Terminal Suppliers:
- Required to collect total fuel taxes of 39.396¢ per gallon (up from 38.596¢), which includes local option taxes.
2. Suspension of Local Sales Surtaxes in Hillsborough County
Also effective January 1, 2025, there will be a temporary suspension of two discretionary sales surtaxes in Hillsborough County:
- Suspended Surtaxes:
- 0.5% indigent care surtax.
- 0.5% local government infrastructure surtax.
- Ongoing Taxes:
- Dealers must continue to collect the 6% state sales tax and the 0.5% school capital outlay discretionary sales surtax, resulting in a combined tax rate of 6.5%.
Week Of 11.11.2024
Florida announces interest rate for first half of 2025.
The Florida Department of Revenue has announced that the interest rate for underpayments, late payments, and overpayments for most taxes and fees will remain at 12% for the period of January 1, 2025, through June 30, 2025. This rate is adjusted twice a year based on the adjusted prime interest rate charged by banks. The daily interest rate factor for this period is 0.000328767. This rate is subject to change effective July 1, 2025.
Week Of 11.21.2024
Florida Business Tax Rates—Florida fuel tax rates increase in 2025.
The Florida Department of Revenue has announced that, beginning January 1, 2025, the statewide tax rates on motor fuel and diesel fuel increase. The state tax rate on motor fuel increases to 21.5¢ per gallon (previously, 21¢ per gallon). Also, the State Comprehensive Enhanced Transportation System (SCETS) tax on motor fuel increases to 9.7¢ per gallon (previously, 9.4¢ per gallon). The inspection fee on motor fuel remains at 0.125¢ per gallon. Further, the total combined county and state tax rate on diesel fuel increases to 38.2¢ per gallon (previously, 37.4¢ per gallon). The state tax rate on aviation fuel remains at 4.27¢ per gallon. The Department also announces that terminal suppliers are required to collect total fuel taxes of 39.396¢ per gallon (previously, 38.596¢ per gallon), which include local option taxes. (Florida Tax Information Publication No. 24B05-05, 11/20/2024.)
Florida Fuels & Minerals Taxes—Florida fuel tax rates increase in 2025.
The Florida Department of Revenue has announced that, beginning January 1, 2025, the statewide tax rates on motor fuel and diesel fuel increase. The state tax rate on motor fuel increases to 21.5¢ per gallon (previously, 21¢ per gallon). Also, the State Comprehensive Enhanced Transportation System (SCETS) tax on motor fuel increases to 9.7¢ per gallon (previously, 9.4¢ per gallon). The inspection fee on motor fuel remains at 0.125¢ per gallon. Further, the total combined county and state tax rate on diesel fuel increases to 38.2¢ per gallon (previously, 37.4¢ per gallon). The state tax rate on aviation fuel remains at 4.27¢ per gallon. The Department also announces that terminal suppliers are required to collect total fuel taxes of 39.396¢ per gallon (previously, 38.596¢ per gallon), which include local option taxes. (Florida Tax Information Publication No. 24B05-05, 11/20/2024.)
Florida Sales & Use Taxes—Local sales surtaxes suspended in Hillsborough County, Florida.
The Florida Department of Revenue has announced that, beginning January 1, 2025, there is a temporary suspension of two discretionary sales surtaxes levied in Hillsborough County. Dealers should temporarily stop collecting the Hillsborough County 0.5% indigent care surtax and the Hillsborough County 0.5% local government infrastructure surtax. However, dealers in Hillsborough County should continue to collect the 6% state sales tax and Hillsborough County 0.5% school capital outlay discretionary sales surtax for a combined tax rate of 6.5%. The end date for the suspension has yet to be determined and the Department will issue another publication to notify affected dealers when to resume collecting the suspended taxes. (Florida Tax Information Publication No. 24A01-15, 11/19/2024.)
Week Of 11.11.2024
Florida announces interest rate for first half of 2025.
The Florida Department of Revenue has announced that the rate of interest on underpayments, late payments, and overpayments, applicable to most taxes and fees, for the period of January 1, 2025, through June 30, 2025, remains at 12%. The interest rate is adjusted biannually based on the adjusted prime interest rate charged by banks. The daily interest rate factor to be used for this period is 0.000328767. This rate is subject to change effective July 1, 2025. (Florida Tax Information Publication No. 24ADM-04, 11/06/2024.)
Week Of 11.21.2024
Florida Business Tax Rates—Florida fuel tax rates increase in 2025.
The Florida Department of Revenue has announced that, beginning January 1, 2025, the statewide tax rates on motor fuel and diesel fuel increase. The state tax rate on motor fuel increases to 21.5¢ per gallon (previously, 21¢ per gallon). Also, the State Comprehensive Enhanced Transportation System (SCETS) tax on motor fuel increases to 9.7¢ per gallon (previously, 9.4¢ per gallon). The inspection fee on motor fuel remains at 0.125¢ per gallon. Further, the total combined county and state tax rate on diesel fuel increases to 38.2¢ per gallon (previously, 37.4¢ per gallon). The state tax rate on aviation fuel remains at 4.27¢ per gallon. The Department also announces that terminal suppliers are required to collect total fuel taxes of 39.396¢ per gallon (previously, 38.596¢ per gallon), which include local option taxes. (Florida Tax Information Publication No. 24B05-05, 11/20/2024.)
Florida Fuels & Minerals Taxes—Florida fuel tax rates increase in 2025.
The Florida Department of Revenue has announced that, beginning January 1, 2025, the statewide tax rates on motor fuel and diesel fuel increase. The state tax rate on motor fuel increases to 21.5¢ per gallon (previously, 21¢ per gallon). Also, the State Comprehensive Enhanced Transportation System (SCETS) tax on motor fuel increases to 9.7¢ per gallon (previously, 9.4¢ per gallon). The inspection fee on motor fuel remains at 0.125¢ per gallon. Further, the total combined county and state tax rate on diesel fuel increases to 38.2¢ per gallon (previously, 37.4¢ per gallon). The state tax rate on aviation fuel remains at 4.27¢ per gallon. The Department also announces that terminal suppliers are required to collect total fuel taxes of 39.396¢ per gallon (previously, 38.596¢ per gallon), which include local option taxes. (Florida Tax Information Publication No. 24B05-05, 11/20/2024.)
Florida Sales & Use Taxes—Local sales surtaxes suspended in Hillsborough County, Florida.
The Florida Department of Revenue has announced that, beginning January 1, 2025, there is a temporary suspension of two discretionary sales surtaxes levied in Hillsborough County. Dealers should temporarily stop collecting the Hillsborough County 0.5% indigent care surtax and the Hillsborough County 0.5% local government infrastructure surtax. However, dealers in Hillsborough County should continue to collect the 6% state sales tax and Hillsborough County 0.5% school capital outlay discretionary sales surtax for a combined tax rate of 6.5%. The end date for the suspension has yet to be determined and the Department will issue another publication to notify affected dealers when to resume collecting the suspended taxes. (Florida Tax Information Publication No. 24A01-15, 11/19/2024.)
Week Of 11.11.2024
Florida announces interest rate for first half of 2025.
The Florida Department of Revenue has announced that the rate of interest on underpayments, late payments, and overpayments, applicable to most taxes and fees, for the period of January 1, 2025, through June 30, 2025, remains at 12%. The interest rate is adjusted biannually based on the adjusted prime interest rate charged by banks. The daily interest rate factor to be used for this period is 0.000328767. This rate is subject to change effective July 1, 2025. (Florida Tax Information Publication No. 24ADM-04, 11/06/2024.)