FGNW: Florida Tax Advantages

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

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 the 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
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 of motion pictures, made for television motion pictures, television series, commercial music videos or sound recordings.

Corporate Income Tax

Individual Income Tax

Sales Tax

Florida

5.50%

0.00%

6.00%

Alabama

6.50%

5.00%

4.00%

Georgia

5.75%

5.00%

4.00%

Mississippi

5.50%

5.00%

7.00%

Louisiana

7.50%

4.25%

4.45%

Florida Tax Advantages