FL Bill Creates 60-Day “Virtual Currency” Tax Holiday

Florida Politics reports:

A plan to grant a two-month sales tax holiday on select items purchased with “virtual currency” would save consumers boatloads of cash, but it’s not because Floridians would flock to Bitcoin and other cryptocurrencies.

State economists analyzing SB 352, sponsored by Sen. Jason Brodeur, a Sanford Republican, determined the measure would cost state coffers nearly $1.4 billion. The bill would give a sales tax holiday from June 1, 2025, to July 31, 2025, at gas stations, grocery stores, salons, barbershops, bars, nightclubs and spas if consumers paid using virtual currency.

But because the definition of “virtual currency” in state law is broad enough to include credit and debit card transactions, purchases using them would be included in the sales tax holiday by state administrators.

Read the full article. Gosh, I wonder if he’s gotten any donations from crypto bros. Brodeur appeared here last month for his bill that would classify calling anyone racist, sexist, anti-gay, or antisemitic as “defamation per se.” Brodeur was narrowly elected in 2020 in an election in which a ghost candidate was convicted of a scheme to siphon votes from the Democratic candidate.

‘Virtual currency’ tax holiday would cost state coffers $1.4B, economists project

Reporting by @GrayRohrerhttps://t.co/yVub7ITQuN#FlaPol

— Florida Politics (@Fla_Pol) February 12, 2024