Amelia Island

State Sales Tax Rate Imposed on Rentals, Leases, or Licenses to Use Real Property Reduced Effective June 1, 2024, the state sales tax rate imposed under section 212.031, Florida Statutes (F.S.), on the total rent charged for renting, leasing, letting, or granting a license to use real property (also known as “commercial rentals”) is reduced…

FloridaCommerce Recognizes Small Business Week in Florida More New Business Formations in Florida Than Any Other State in the Nation Tallahassee, FL – FloridaCommerce celebrates Small Business Week in Florida by recognizing the vital contributions of entrepreneurs and small business owners in their communities. In 2024 alone, 163,992 new businesses have formed in Florida, more than…

U.S. Department of Labor Publishes Updated Overtime Regulations The Biden-Harris administration announced a final rule that expands overtime protections for millions of the nation’s lower-paid salaried workers by increasing the salary thresholds required to exempt a salaried bona fide executive, administrative or professional employee from federal overtime pay requirements.  Effective July 1, 2024, the salary threshold…

U.S. Beneficial Ownership Information Registry Reminder Under the newly enacted Corporate Transparency Act, there is a reporting requirement of all small businesses to show who the owners of a corporation are. Enacted in 2021 to curb illicit finance, the bipartisan bill requires many companies doing business in the United States to report information about the…