–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%
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.
See also: Florida Examples of Tax Reform Good News