George Gibbs Center for Economic Prosperity

01/18/05 – Now ⁠i⁠s ⁠t⁠he T⁠i⁠me ⁠t⁠o Repeal Flor⁠i⁠da’s In⁠t⁠ang⁠i⁠bles Tax

By: The James Madison Institute / 2005

In 1997 the legislature agreed to begin a repeal of Florida’s intangible property tax, which is a state tax on the holdings of stocks, bonds, and other financial assets. At that time the rate stood at two mills, and they agreed to reduce that rate by half a mill per year until, after four years, the tax was eliminated.