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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

For Orlando, FL (2005):Index Score
Misc. Goods & Services:104.6

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

Personal Property Tax

  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.