4 minute read
Business
from PCO 07-01-21
Economists uncertain about ‘Freedom Week’ revenue impact
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JIM TURNER
THE NEWS SERVICE OF FLORIDA
State economists acknowledge the upcoming “Freedom Week” tax holiday is uncharted territory when it comes to estimating reductions in tax revenue.
Lawmakers approved the first-of-its-kind tax holiday, which will run from July 1 through July 7, to help spur people to get outside after being cooped up during the pandemic.
During the holiday, people will be able to avoid paying sales taxes on tickets purchased for such things as live music, athletic contests, in-theater movies, cultural events and entrance to museums and state parks. Tickets could be purchased during the week for events that occur later in the year, including annual passes. The holiday will also provide sales-tax exemptions for such outdoor equipment as tents, grills, bicycles, kayaks and fishing supplies.
“It’s hard to know (the impact on tax revenues), because we’ve never done this before. And this is a brand new time of year for us,” said Amy Baker, coordinator of the Legislature’s Office of Economic & Demographic Research. “So, we don’t know how much attention it will get during that period. But I still, as we add stuff, I think there’s more opportunities for businesses to have collections of items and try to get some synergy from, ‘Hey, when you’re here buying this, buy this and this and this,’ because they’re all subject to the new sales tax holiday.”
Economists initially projected the period would reduce state and local revenue by $54.7 million. The tax holiday was part of an overall $196.3 million tax package that also included more traditional tax holidays for back-to-school shoppers and hurricane supplies.
One question posed by state economists is whether the tax break will cause people to rush out and buy kayaks, sporting goods or event tickets. A second, and bigger wild card, is whether businesses and shoppers know about Freedom Week.
“I know it’s being welladvertised in our office because we have ‘Freedom Week’ flyers all over the place,” Baker said. “Hopefully, it’s being welladvertised elsewhere.”
Olga Wengert joins Ameris Bank as branch manager
Olga Wengert
Olga Wengert has joined Ameris Bank as branch manager of the Palm Coast location, according to Ameris Bank Market President Cecil Gibson.
Wengert will be responsible for building and maintaining banking relationships in the Palm Coast area and managing the daily operations of the branch.
With over 10 years of experience in the financial industry, Wengert is a skilled banking and lending professional.
Prior to joining Ameris, she was a branch leader and small business relationship manager at BB&T, now Truist.
“We are excited to have Olga join and lead our team in Palm Coast,” Gibson said. “Her dedication to her clients and community, combined with her financial knowledge and leadership experience, will be invaluable as we continue to grow and serve Palm Coast.”
Wengert graduated from Keiser University with a bachelor’s in health care administration.
Wengert is proud of all the continued growth throughout Flagler County and enjoys supporting the flourishing community through various volunteer opportunities.
“I have a strong passion for serving my community, continuing my personal growth and being part of the solution for my clients’ needs,” Wengert said. “I am excited to join the Ameris Bank team and commit to the success of Flagler County.”
Your Home Sold Guaranteed Realty adds two agents
Your Home Sold Guaranteed Realty recently welcomed two new agents: Deidre Vlassis and David Vlassis. They have been in the business for three years, but have recently joined the Jesse Warmka team.
“We are excited to demonstrate Second Mile Service and follow YHSGR’s mission — ‘to positively impact the lives of people, through second mile service, innovative systems, and charitable giving. Go serve big!’” Deidre said in a press release from the real estate firm.
Your Home Sold Guaranteed Realty opened an office branch in Palm Coast in January 2021. Since then, YHSGR has already helped dozens of families with their real estate needs.
YHSGR is dedicated to giving back to the community. A portion of every sale and referral is donated to St. Jude Children’s Research Hospital. YHSGR is on a mission to raise $25,000 for this worthy cause.
The Jesse Warmka team is looking for more ambitious agents eager to grow their real estate business and help more families. If you know anyone looking to pursue a career in real estate, call 608-358-0917.
Your Home Sold Guaranteed Realty is located at 4865 Palm Coast Parkway NW, Unit 1, in Palm Coast.
To learn more, call 206806-SOLD or visit PalmCoast. Properties.
Courtesy photos Deidre and David Vlassis.
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