Florida has a stable and favorable tax climate for every type of business. The tax advantages offered make Florida a profitable location to expand or relocate every type of business.
State of Florida Advantages
- No corporate income tax on sub-chapter S-corporations
- No corporate income tax on limited partnerships
- No corporate franchise tax on capital stock
- No state-level property tax assessed
- No property tax on business inventories
- No property tax on goods-in-transit for up to 180 days
- No personal income tax guaranteed by constitutional provision
- No sales and use tax on goods manufactured or produced in Florida for export outside the state
- No sales tax on co-generation machinery and equipment
Sales and Use Tax Exemptions
- Machinery and equipment used predominantly in research and development
- Machinery and equipment used by a new or expanding Florida business to manufacture, produce, or process tangible personal property for sale
- Labor component of research and development expenditures
- Aircraft parts, modification, maintenance and repair, sale or lease of qualified aircraft
- Production companies engaged in Florida in the production of motion pictures, made for television motion pictures, television series, commercial music videos or sound recordings.
Florida offers many business advantages. The tax climate is favorable and allows for a competitive environment. Business and personal tax advantage make Florida – South Miami-Dade – an ideal place to live, work, and play.
The Economic Development Council will provide the resources necessary to expand or relocate your business. Call us today for more information (305) 378-9470.
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