Florida's HB 7033 proposes to permanently reduce the state's sales tax rate from 6% to 5.25%. The legislation would lower all other sales tax rates by the same 0.75% margin, including commercial rent (2% to 1.25%), electricity (4.35% to 3.6%), new mobile home purchases (3% to 2.25%), and coin-operated amusement machines (4% to 3.25%). 

The bottom line: If the bill gets passed, businesses operating in Florida should prepare to update their point-of-sale systems and tax compliance procedures for this significant rate reduction.