TAX ADVANTAGES
BUSINESS ASSISTANCE
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FINANCIAL INCENTIVES
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TAX ADVANTAGES
DEVELOPMENT INITIATIVES
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WORKFORCE DEVELOPMENT
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TRAINING
STATE OF FLORIDA HAS
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NO corporate income tax on limited partnerships |
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NO corporate income tax on subchapter S-corporations |
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NO state personal income tax guaranteed by constitutional provision |
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NO corporate franchise tax on capital stock |
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NO state-level property tax assessed |
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NO property tax on business inventories |
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NO property tax on goods-in-transit for up to 180 days |
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NO sales and use tax on goods manufactured or produced in Florida for export outside the state |
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NO sales tax on purchases of raw materials incorporated in a final product for resale, including non-reusable containers or packaging |
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NO sales/use tax on co-generation of electricity |
TAX EXEMPTIONS
Florida also offers sales and use tax exemptions for:
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Machinery and equipment used by a new or expanding Florida business to manufacture, produce or process tangible personal property for sale |
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Labor, parts and materials used in repair of and incorporated into machinery and equipment |
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Electricity used in the manufacturing process |
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Certain boiler fuels (including natural gas) used in the manufacturing process |
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Semiconductor, defense and space technology-based industry transactions involving manufacturing equipment |
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Machinery and equipment used predominantly in research and development (effective July 1, 2006) |
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Labor component of research and development expenditures |
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Commercial space activity — launch vehicles, payloads and fuel, machinery and equipment for production of items used exclusively at Spaceport Florida |
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Aircraft parts, modification, maintenance and repair, sale or lease of qualified aircraft |
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Production companies engaged in Florida in the production of motion pictures, made for television motion pictures, television series, commercial music videos or sound recordings |
(page last updated on 7/13/2007)