
Discretionary Sales Surtax Ination for Calendar Year 2024-2025 Form
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People also ask discretionary sales surtax information
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What is the difference between tax and surtax?
A surtax is generally assessed to fund a specific government program, whereas regular income taxes or sales taxes are used to fund a variety of programs. Thus, one unique feature of a surtax is that it allows taxpayers to more easily see how much money the government is collecting and spending for a particular program.
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What is the surtax rate in Hillsborough County Florida?
In addition, some counties charge a local discretionary sales surtax. Hillsborough County residents currently pay a 1.5% discretionary sales surtax on the first $5,000 of taxable value.
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Is there a surtax rate for 2024 in Florida?
It is the start of a new year and businesses (and customers) should take note of the changes that became effective January 1, 2024. It is not as complex as in some other recent years. For this year, there are no new surtax increases.
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How do you calculate Florida sales tax and surtax?
Calculating Sales Tax How to Calculate Florida State Sales Tax: Taxable Value $10,000.00. 6% x .06. Total Sales Tax $600.00. How to Calculate Hillsborough County Discretionary Tax: Discretionary Taxable Value: $5,000.00. 1.5% x .015. ... How to Calculate Total Tax: Sales Tax $600.00. Discretionary Tax + $75.00.
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What is the surtax for over $5000 in Florida?
Any transactions over $5,000 cannot be subjected to discretionary sales surtax. Transactions over $5,000 are subject to the state and discretionary sales surtax up to $5,000, each dollar over the $5,000 threshold is only taxed at the state rate of 6%.
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What is a discretionary sales surtax in Florida?
Discretionary sales surtax applies to transactions when: The selling dealer delivers taxable goods or taxable services in or into a county with a surtax. The event for which an admission is charged is located in a county with a surtax. (Surtax is due at the rate in the county where the event takes place.)
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What is the surtax rate in Florida for 2024?
For this year, there are no new surtax increases. However, there was one surtax decrease as the Collier County local government infrastructure 1% sales tax was repealed effective December 31, 2023. That means Collier County only charges the 6% sales tax rate starting this year.
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Which counties in Florida have surtax?
Discretionary Sales Surtax Rate Table #County 1Total Surtax Rate 1 ALACHUA 1.50 % 2 BAKER 1.00 % 3 BAY 1.00 % 4 BRADFORD 1.00 %23 more rows
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