In response to COVID-19’s impact on businesses, Florida Governor DeSantis issued Executive Order 20-95, directing the Department of Revenue to issue an emergency order suspending taxation imposed under Chapter 201, Florida Statutes, for notes and other written obligations made pursuant to Title I of the CARES Act.

This is great news for businesses who will be receiving a loan under the CARES Act, as funds that would have been used to pay the documentary stamp tax can now be used for business purposes during this incredibly difficult time. The Governor’s order allows employers receiving money from the federal CARES Act to use the full dollar amount to pay their rent and help their employees.

If you have any questions or need any additional information, please contact Blalock Walters at 941.748.0100 or email real estate attorney Will Robinson at wrobinson@blalockwalters.com.

 

William C. Robinson, Jr., Esq., Florida Board Certified in Real Estate Law

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