Taxation Information

Florida's stable and highly favorable tax climate provides advantages that make a Florida location profitable for every type of business. Progressive legislation also ensures that Florida remains a worldwide hub for new and expanding businesses.

• 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 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 companies engaged in Florida in the production of motion pictures, made for television motion pictures, television series, commercial music videos or sound recordings