Why incorporate in Florida?

Business Information & Rankings

• Florida is the 4th largest State for overall Technology Employment in the nation (Cyberstates, 2005)
• Florida’s job growth is 11 times the average of all states. (Career Guide, U.S. News & World Report, 2005)
• Florida is in the top ten among all States in terms of expansion and establishment of new businesses. (Annual Economic Development Rankings, Global Corporate Xpansion, 2005)
• Florida ranks 2nd on the State Business Tax Climate Index (Tax Foundation, 2004)
• Seven Florida metro areas were rated the very best U.S. cities for job creation and retention. (The Milken Institute, 2004)

Cost of living

Crime Rate

Florida has the 42nd lowest crime ranking among U.S. States. (FBI, 2004)

Fees & Taxes

Business Inventory Tax
Florida does not tax business inventory.

Corporate Income Tax
Rate: 5.5%

Personal Income Tax
None.

Personal Property Tax
Taxable.

  Tangible Property: Anyone owning tangible personal property on January 1, who has a proprietorship, partnership, corporation, is a self-employed agent or a contractor, must file a tangible personal property return. Property owners, who lease, lend or rent property must also file.

  Intangible Property: Every corporation, company, or other legal entity domiciled in Florida or who manages or controls intangible personal property having a taxable status in this state, must file an Intangible Personal Property Tax Return if tax due, before discount, is $60 or more.

State Sales and Use Tax
Base Rate: 6%
Machinery Rate: none

An exemption is given for industrial machinery and equipment for use in a new business that manufactures, processes, or produces for sale items of tangible personal property at fixed Florida locations if they increase productive output by not less than 10% percent, are exempt from an amount of tax in excess of $50,000/yr.

Unemployment Insurance
Florida’s new employers’ rate is 2.7% for 2.5 years.