Incentives

This unique region of Florida has an abundant supply of land for business growth, allowing for site-specific development. For those desiring an existing site, there are business parks located throughout the region.

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.

Florida Has . . . . . . . .

NO corporate income tax on limited partnership.
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/use tax on co-generation of electricity.
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 incorporate in a final product for resale, including non-reusable containers or packaging.

Florida offers Sales and Use Tax Exemptions on…

• 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