ONE LAST REMINDER: SMALL BUSINESSES MUST FILE BOI REPORT BY JANUARY 1, 2025 You may have heard about a new filing requirement for small businesses called a Beneficial Ownership Information (BOI) report. This is not a scam! It is real, and the deadline to file it is January 1st. The BOI report is required under […]
NEW FILING REQUIREMENT FOR SMALL BUSINESSES A new federal law most small businesses have never heard of requires a new “ownership” disclosure that must be reported to the federal government by the end of this year. This new filing requirement is part of the Corporate Transparency Act, a federal law approved in 2021 to combat […]
IMPORTANT! NEW FILING REQUIREMENT FOR SMALL BUSINESSES Most small businesses are not aware of a new requirement to file an “ownership” disclosure form with the federal government by the end of this year. This new filing requirement is part of the Corporate Transparency Act, a federal law approved by the US Congress in 2021. Small […]
FLORIDA MINIMUM WAGE WILL BE $13.00 AN HOUR STARTING SEPTEMBER 30TH Under a 2020 amendment to the Florida Constitution, the Florida minimum wage automatically increases by $1 each September 30th until it reaches $15 an hour in 2026. Starting September 30, 2024, the Florida minimum wage is increasing to $13 an hour. All non-tipped employees […]
HURRICANE SUPPLIES ARE TAX-FREE AUGUST 24th – SEPTEMBER 6th Certain household items and supplies needed for evacuating with pets will be tax-free for another two weeks starting August 24th. If your business sells any of these items, you must temporarily stop collecting the state sales tax on these items from Saturday August 24th through Friday […]
MORE WORKERS WILL QUALIFY FOR OVERTIME PAY STARTING JULY 1ST Starting July 1, 2024 employees whose salary is less than $844 a week ($43,888 on an annual basis) must be paid overtime if they work more than 40 hours in a workweek. Prior to July 1st, only workers with a salary less than $684 a […]
LOANS AVAILABLE FOR BUSINESSES IMPACTED BY SEVERE WEATHER IN MAY Businesses that were affected by the tornados and severe weather in north Florida in May can apply for assistance from the Florida Small Business Emergency Bridge Loan program. This program provides short-term, no-interest loans of up to $50,000. Small businesses in need of assistance in […]
BUSINESS RENT TAX IN FLORIDA IS DECREASING JUNE 1ST In Florida, state sales tax is charged on commercial property leases. Businesses that rent office space, retail space, or warehouses are required to pay sales tax on the amount of their lease. The current sales tax rate for commercial leases is 4.5% plus any local county […]
LAST REMINDER: FILING DEADLINE FOR YOUR COMPANY’S 2024ANNUAL REPORT IS MAY 1st There are only a few weeks left before the May 1st deadline for Florida companies to file their corporate Annual Report with the State of Florida. If you miss the May 1st deadline, the state will add a mandatory penalty of $400 in […]
FLORIDA REEMPLOYMENT TAX RATES FOR 2024 NOW AVAILABLE With a few exceptions, Florida employers are required to pay a state reemployment tax (also called unemployment tax) on the wages paid to its employees. Reemployment tax is paid quarterly to the Florida Department of Revenue by filing a form RT-6 (Employers Quarterly Report). Your business should […]