Saturday, October 14, 2006

Tax advantages for Florida business owners

Some of the more significant advantages to living and establishing businesses in Florida, with respect to taxes are:

* No state income tax
* No corporate income tax on sub-chapter S corporations
* First $5000 of taxable income apportioned to Florida is exempt
* No state property tax on inventory or equipment
* No business inventory tax
* No corporate franchise tax on capital stock
* No corporate tax on limited partnerships, individuals, Estates and private trusts
* No collected or assessed state property tax
* No sales tax on "boiler fuels" used at a fixed Florida location in an industrial manufacturing, processing or compounding process
* No sales and use tax on goods manufactured or produced in Florida for resale or export outside Florida
* Corporation accounts receivable (one third) exempt from intangible property tax
* Exemption of employee stock options from employer
* No property tax on goods-in-transit for up to 180 days

While these are in themselves incentives, the following are additional incentives offered by the State and local government working together to provide you with an environment conducive to your success.

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