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Taxes

Right-to-work states are more likely to experience higher economic growth and job creation and Florida is one of 22 in the nation. You will find our local governments are just as business friendly as the state. Come see for yourself how a competitive tax climate and sophisticated public policies in Volusia can support your company's future success.

Florida has NO...

  • NO corporate income tax on limited partnerships
  • NO corporate income tax on subchapter S-corporations
  • NO 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

Florida offers Sales and Use Tax Exemptions on...

  • 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
  • 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 5th Best State in the Nation...

Tax Foundation's 2015 State Business Tax Climate Index

State Overall Rank Individual Income
Tax Index
Sales Tax Index Corporate Tax
Index
Property Tax
Index
Unemployment
Insurance Tax
Wyoming 1 1 13 1 35 34
South Dakota 2 1 35 1 18 41
Nevada 3 1 39 1 9 43
Alaska 4 1 5 30 32 24
Florida 5 1 12 14 16 3
Montana 6 20 3 18 8 18
New Hampshire 7 9 2 48 43 44
Indiana 8 10 10 22 5 7
Utah 9 12 19 5 4 22
Texas 10 6 36 39 36 15