Florida tax relief is available to you in different forms,including personal and business taxes. There are also deductions for charitable contributions and many other special credits that can be claimed. Florida offers several different tax relief programs and here is a list of the most popular programs. This list is not inclusive and is provided for your convenience.
The Florida Employer Liability Insurance Program (Eligible Employer) is a payment plan that provides tax relief to employers who have at least one employee in Florida. With this plan,businesses that have twenty or more employees can get tax relief on payroll taxes and on income taxes of their employees. Employees contribute a portion of their paycheck or their income taxes to this account. They can also choose to make payments directly to this account or pay by installments. Payment by installments is the same as a traditional loan and has the same tax relief as well.
Another Florida tax relief program available to businesses is the Florida Property Tax Abatement. Business owners who pay property taxes every year may qualify for this program that is designed to lessen their tax liability. Florida property tax abatement allows the business owner to get tax credits for decreasing the value of their commercial real estate. There are also provisions that allow individuals or corporations to temporarily cease paying their annual property taxes.get IRS tax relief