Taxes

Florida's 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 boiler fuels
• NO sales/use tax on co-generation of electricity

Florida offers Sales and Use Tax Exemptions on…

• Semiconductor, defense and space technology-based industry transactions involving manufacturing or research equipment
• Purchases of 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 that qualify for sales tax exemption upon purchase (phased in over four years, 75% exempt on July 1, 2001)
• Electricity used in the manufacturing process
• Aircraft parts, modification, maintenance and repair, sale or lease of qualified aircraft
• Commercial space activity -- launch vehicles, payloads and fuel, machinery and equipment for production of items used exclusively at Spaceport Florida
• Labor component of research and development expenditures.
• Any facility, device, fixture, machinery or equipment required for pollution control, abatement or monitoring of equipment used in manufacturing processing or compounding items for sale.