Taxes

We thought about titling this section “No Taxes,” but we didn’t want to get too carried away. Nevertheless, our pro-business state tax policies and competitive cost of doing business just reinforce the fact that Southwest Florida is a brighter place to do business.

We’re proud of our competitive and targeted financial advantages, and the fact that we live in one of the most attractive states in the nation for businesses and entrepreneurs.

In fact, you will discover a variety of advantages that make it a profitable location for practically every type of business. What’s more, progressive legislation continues to ensure that our state will remain a magnet for new and expanding businesses.

Businesses in Southwest Florida enjoy:

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 and use tax on boiler fuels
NO sales and use tax on co-generation of electricity

And that’s not all.

Competitive Cost of Doing Business: Florida offers a cost-efficient alternative to other competitive high-tech states. Put simply, land, labor, and capital are more affordable in Florida than in California, New York, or Texas. In addition, for businesses in certain targeted industries, the state offers additional incentives. Businesses looking for workforce training, road infrastructure or specialized locations, may also qualify for specific incentive programs.

Pro-Business Tax Structure: Business dollars go a lot farther here given Florida's limited corporate taxes and no personal income tax. Thanks to a history of responsible spending decisions and high financial reserves, Florida has earned a AAA bond rating – the highest available – while enjoying this low-tax climate. Businesses thrive in this low-tax environment and employees enjoy the benefit of no personal income tax.

Smart Laws: Tort reform has been a priority for Florida’s business-friendly leaders. Some of their most recent successes include the elimination of joint and several liability, rate reductions for workers compensation insurance by over 60% in the last five years, and class-action suit reform.

Available Resources: For entrepreneurs and growing businesses, Florida offers access to capital from private, federal and other sources and has implemented a number of initiatives – such as the Florida Opportunity Fund – to stimulate capital formation in the state. Strategic business support is also available from numerous entrepreneurship centers.

For more information about the brighter tax advantages your business can enjoy in Southwest Florida, contact info@abrighterplace.com or call us toll free 877-294-9866 today.