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Florida Pursues Reputation of ‘Most Veteran-Friendly’ State with New Law

Florida governor Rick Scott recently signed into law Senate Bill 100, “Taxes and Fees for Veterans and Low-income Persons,” which eliminates the local business tax for Veteran small business owners.

Effective July 1, 2018, the law creates an exemption from local business taxes and fees for honorably discharged Veterans and their spouses. The Veteran must own a business with fewer than 100 employees.

The exemption also applies to widows/widowers of honorably discharged Veterans if they’re not remarried, as well as to the spouses of Active Duty members who relocate to Florida pursuant to a permanent change of station order.

To receive the exemption, the Veteran business owner must complete and sign a Request for Fee Exemption and provide documentation to support the request. The local governing authority provides the forms.

SB100 also eliminates the $1 or $2 fee previously charged to display the word “Veteran” on an ID card or driver’s license. Additionally, Veterans will no longer be charged the $6.25 service fee for obtaining a driver’s license if they present documented proof of their status.

We say, not a moment too soon! Patrick & Raines CPAs, an Army Veteran-founded accounting firm, appreciates Active Duty and Veteran members of the military and their service to all of us.

Whether they stormed the beaches of Normandy, fought to a truce in Korea, managed guerilla warfare in the Vietnam jungles, survived the sandy battles of Iraq, traversed the hazardous mountains of Afghanistan, or served in top-secret locations we’ll never know about, our Service members stood the watch, consistently defending our national security.

Here’s to our Soldiers, Sailors, Marines, Airmen and Coast Guardsmen…and the state of Florida for recognizing their service.

Since 1982, P&R has assisted small business owners with a variety of business consulting, bookkeeping, tax, and assurance needs. Contact us if we can help:  Office@CPAsite.com or 904-396-5400.

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