Gillum Wants 40% Corporate Tax Rate Hike


Posted by John Kartch on Wednesday, August 29th, 2018, 12:33 AM PERMALINK

--Gillum tax hike would give Florida the highest corporate tax in the region--

Bernie Sanders-backed candidate Andrew Gillum has won the Democrat nomination for the governorship of Florida. Taxpayers beware: Gillum wants to impose a massive tax increase on Floridians, starting with a corporate tax rate hike of over 40 percent.

As reported by the Tampa Bay Times:

Gillum said if elected, he would increase Florida's corporate tax rate to 7.75 percent, up from the current 5.5 percent.

That’s a 40.9% increase -- a tax hike of over a billion dollars.

Gillum’s tax hike to 7.75% will give Florida the highest corporate tax rate in the region -- higher than Georgia, South Carolina, North Carolina, Tennessee, Alabama, and Mississippi.

The state corporate rates are as follows:

North Carolina            3.0% (Note: NC's rate is dropping down to 2.5% in Jan. 2019)

South Carolina            5.0%

Mississippi                  5.0%

Georgia                        6.0%   

Tennessee                   6.5%

Alabama                      6.5%

GILLUM TAX HIKE      7.75%             

The Republican nominee for governor, Ron DeSantis, has made a firm written commitment to Floridians that he will oppose and veto any tax hike.

Game on.

See also: Florida Examples of Tax Reform Good News

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