STATE OF FLORIDA HAS

  • N0 corporate income tax on limited partnerships
  • N0 corporate income tax on sub chapter S-corporations
  • N0 state personal income tax guaranteed by constitutional provision
  • 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 sales and use tax on goods manufactured or produced in Florida for export outside the state
  • No sales tax on purchases of raw materials incorporated in a final product for resale, including non-reusable containers or packaging
  • No sales/use tax on co-generation of electricity

TAX EXEMPTIONS

Florida also offers sales and use tax exemptions for:

  • Machinery and equipment used by a new or expanding Florida business to manufacture, produce or process tangible personal property for sale
  • Labor, parts and materials used in repair of and incorporated into machinery and equipment
  • Electricity used in the manufacturing process
  • Certain boiler fuels (including natural gas) used in the manufacturing process
  • Semiconductor, defense and space technology-based industry transactions involving manufacturing equipment
  • Machinery and equipment used predominantly in research and development (effective July 1, 2006)
  • Labor component of research and development expenditures
  • Commercial space activity — launch vehicles, payloads and fuel, machinery and equipment for production of items used exclusively at Spaceport Florida
  • 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



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