Florida is among the most prominent states in the US for businesses and investors. And for a good reason — Florida has several tax incentives that can help your business save money. If you're considering moving your company to Florida or expanding your business there, you need to be aware of these tax incentives.
Florida has many tax incentives available for businesses, including:
This program offers tax incentives for businesses located in designated enterprise zones. Companies can receive a state income tax credit, sales tax exemptions, and property tax abatements.
Firms that create high-value jobs within specific industries may be eligible for this program.
Firms that create new jobs in enterprise zones may be eligible for a tax credit of up to $2,500 per job created.
This exemption applies to the purchase of manufacturing machinery and equipment. It can save businesses thousands of dollars.
This program funds businesses that create new, high-paying jobs in Florida.
Businesses that conduct research and development in Florida may be eligible to receive this tax credit. It's worth up to 10% of qualified research and development expenses.
Florida has a corporate income tax rate of just 5.5%, one of the lowest in the US.
If you're considering moving your business, take advantage of these Florida tax incentives. They can help you grow your company’s financial resources, which can then go toward expanding your workforce.
Whether you're looking at commercial real estate in Florida or expanding your workforce, the state offers many tax incentives that can save your business money.