TAX NEWS - 2010

Florida Tax: Changes to Florida Enterprise Zone Building Materials Incentive

Effective July 1, 2010, condominium parcels and condominium property, as defined in section 718.103, Florida Statutes (F.S.), are no longer eligible for the refund of sales tax paid on building materials used in the rehabilitation of real property located in an enterprise zone.

Also effective July 1, 2010, a single application for the refund of sales tax paid on building materials used in the rehabilitation of real property located in an enterprise zone may now be submitted for multiple, contiguous parcels. The parcels must be part of a single parcel that has been divided as part of the rehabilitation of real property in an enterprise zone.

Reference:  Section 212.08(5)(g), Florida Statutes (2010); Chapter 2010-147, Laws of Florida (Section 9, CS/SB 1752, 2nd Eng.); Chapter 2010-138, Laws of Florida (Section 7, CS/HB 7157, 1st Eng.)