Wondering about the current business climate in the Sunshine State? It’s like a July forecast: hot, hot, hot. With pro-industry initiatives, tax benefits, and a deep talent pool, doing business in Florida is more advantageous than ever. This is prime location in which to achieve your company-building goals.
The Sunshine State is extremely friendly to businesses. It offers a stable and favorable business climate with no corporate income tax on limited partnerships and subchapter S-corporations, no state personal income tax, no corporate franchise tax on capital stock, no state property tax, no business inventory property tax, no property tax on goods in transit (for up to 180 days), no sales and use tax on items produced/manufactured in Florida for export, no sales tax on raw materials, and other tax breaks.
You can also claim sales and use tax exemptions in several areas, such as electricity used in manufacturing, certain boiler fuels used in manufacturing, and machinery and equipment used primarily in research and development. If you’re in the tech and defense fields, your options are even broader.
Consult a tax attorney so you are claiming all the breaks, deductions, and exemptions to which you are entitled.
Florida is a hub for highly trained, skilled workers, particularly in the tech space. Several municipal- and statewide initiatives have strengthened education in targeted fields. Your business will have a deep and wide pool of candidates from which to choose.
Quality of Life
Great weather, gorgeous beaches, vibrant culture, and endless chances for fun in the sun make Florida a sought-after destination for both visitors and those who want to move permanently. This attracts businesses, talent, and opportunities to grow your company.
Doing business in Florida is a smart move. Is it one you’re ready to make? Contact the commercial real estate experts at Keller Williams Commercial Real Estate. We will help you research, analyze, and secure the right property for your company.