Florida ranked among the best. The Tax Foundation ranks Florida among the nation’s best states according to its business taxes and climate index. It is ranked fourth in the nation based on its no-income-tax constitution; sales tax index; corporate tax index; property tax index; and unemployment insurance tax. 

No, no, no. While we love saying yes, there are some things to which we say no:

  • No corporate income tax on limited partnerships
  • No corporate income tax on subchapter S corporations
  • No state personal income tax, guaranteed by Florida’s constitution
  • 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 180 days
  • No sales and use tax on goods produced in Florida for export
  • No sales tax on purchases of raw materials incorporated in a final product for sale
  • No sales and use tax on co-generation of electricity 

Right-to-work state. This is a factor in Florida’s healthy economic growth and job creation. Fewer than half the states are right-to-work states.

Business friendly governments. County and city governments have a decidedly pro-business posture, contributing to a business climate that facilitates corporate success and business growth.

Sales & Use tax exemptions. Florida Offers a myriad of tax exemptions to lower business costs.