• 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.

Right To Work State: As one of only ten states with a right-to-work provision in the state constitution, Florida also has one of the lowest unionization rates in the country at about 6.4 percent, and the third lowest unionization rate in manufacturing at 2.6 percent.

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.