News Release: Governor Rick Scott's Office
MIAMI, Fla. – Today, Florida Governor Rick Scott announced a $33 million dollar tax cut to corporate filing fees as part of the “It’s Your Money Tax Cut Budget.” This tax cut will put $33 million back into the pockets of business owners who annually file with the Florida Department of State’s Division of Corporations. The reduction will also streamline all business entity filing fees for over 1.6 million business entities that file with the Department of State.
Governor Scott said, “Small businesses are the backbone of Florida’s economy. This $33 million dollar cut in fees from the ‘It’s Your Money Tax Cut Budget’ will allow more businesses to thrive. Today’s announcement puts more money back into the pockets of business owners and entrepreneurs across this great state, so they can make investments and grow more jobs.”
Every entity looking to conduct business in Florida must file an annual report to keep their records active with the Department of State. This tax cut reduces approximately 50 different corporate filing fees and reduces the penalties associated with late filings taking into account the number of months the filing is late. By standardizing corporate filing fees, it will reduce the cost of running a business in Florida.
“The Department of State’s Division of Corporations is the gateway for anyone who wants to start a business or stay in business in Florida,” said Secretary of State Ken Detzner. “Our high customer service satisfaction ratings reflect the reputation we work to uphold with the business community. Governor Scott’s pledge to reduce corporate filing fees by $33 million dollars shows his commitment to ensuring a healthy business friendly environment in our state, and I commend him for his renewed efforts.”