PROFITABLE FOR EVERY SOUTH MIAMI-DADE BUSINESS

TAX ADVANTAGE

PROFITABLE FOR EVERY
SOUTH MIAMI-DADE BUSINESS

TAX ADVANTAGE

PROFITABLE FOR EVERY
SOUTH MIAMI-DADE BUSINESS

TAX ADVANTAGE

A TAX-FRIENDLY ENVIRONMENT
WHERE BUSINESS THRIVES AND PROSPERITY PREVAILS

Florida shines as the 4th best state nationwide in the State Business Tax Climate Index (Tax Foundation), underscoring our reputation as a tax-friendly destination for businesses. It’s no wonder, as Florida businesses enjoy a myriad of tax advantages. From a 0% income tax and a wealth of incentives and credits, our state serves as a strategic haven for entrepreneurs and corporations, nurturing an environment conducive to growth and prosperity.

NOcorporate income tax on limited partnerships

NOcorporate income tax on subchapter S-corporations

NOstate personal income tax guaranteed by constitutional provision

NOcorporate franchise tax on capital stock

NOstate-level property tax assessed

NOproperty tax on business inventories

NOproperty tax on goods-in-transit for up to 180 days

NOsales and use tax on goods manufactured or produced in Florida for export outside the state

NOsales tax on purchases of raw materials incorporated in a final product for resale, including non-reusable containers or packaging

NOsales and use tax on co-generation of electricity

NOlocal corporate income taxes

NOlocal personal income taxes

EXEMPTIONof sales/use tax for aircraft modification, maintenance, and repair

EXEMPTIONof sales tax on the labor component of R&D expenditures

EXEMPTIONof sales/use tax for the entertainment industry

EXEMPTIONwith removal of foreign source dividends from the corporate income tax base

INCENTIVE GRANT
FLORIDA HIGH IMPACT PERFORMANCE

The High Impact Performance Incentive is a customized grant designed to attract and expand major facilities in sectors including Clean Energy, Corporate Headquarters, Financial Services, Life Sciences, Semiconductors, and Transportation Equipment Manufacturing.

Your Business May Also Qualify For Additional Sales And Use Tax Exemptions, Including:

  • Machinery and equipment used in manufacturing processes
  • Parts and materials for machinery and equipment repair and incorporation
  • Electricity and certain boiler fuels used in manufacturing
  • Transactions in semiconductor, defense, and space technology-based industries
  • Machinery and equipment predominantly used in research and development
  • Labor costs associated with research and development
  • Commercial space activity related to spaceport operations
  • Aircraft parts, modification, maintenance, and repair, as well as the sale or lease of qualified aircraft

TAX CREDIT

FLORIDA CAPITAL INVESTMENT

The Capital Investment Tax Credit offers an annual credit against corporate income tax for up to 20 years. Eligible projects span various sectors such as biomedical technology, financial services, information technology, silicon technology, and transportation equipment manufacturing.

Criteria includes:

  • Operation within a qualified targeted industry
  • Creation of a minimum of 100 new full-time jobs in South Miami-Dade
  • Capital investment of at least $25 million

TAX CREDIT

FLORIDA CAPITAL INVESTMENT

The Capital Investment Tax Credit offers an annual credit against corporate income tax for up to 20 years. Eligible projects span various sectors such as biomedical technology, financial services, information technology, silicon technology, and transportation equipment manufacturing.

Criteria includes:

  • Operation within a qualified targeted industry
  • Creation of a minimum of 100 new full-time jobs in South Miami-Dade
  • Capital investment of at least $25 million

TAX EXEMPTION

MANUFACTURER MACHINERY & EQUIPMENT SALES

Eligible manufacturing businesses in South Miami-Dade can benefit from a sales tax exemption on purchases of industrial machinery and equipment used for manufacturing, processing, compounding, or producing items for sale. The exemption extends to parts and accessories if purchased before the due date of placing the machinery and equipment in service.

TAX EXEMPTION

MANUFACTURER MACHINERY
& EQUIPMENT SALES

Eligible manufacturing businesses in South Miami-Dade can benefit from a sales tax exemption on purchases of industrial machinery and equipment used for manufacturing, processing, compounding, or producing items for sale. The exemption extends to parts and accessories if purchased before the due date of placing the machinery and equipment in service.

FOR DETAILS ON FLORIDA TAX EXEMPTIONS

CLICK HERE

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