Moving Your Company to Florida? Take Advantage of These Florida Tax Incentives for Businesses

Tue, Oct 04, 2022 at 9:35AM

Moving Your Company to Florida? Take Advantage of These Florida Tax Incentives for Businesses

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 Tax Incentives for Businesses

Florida has many tax incentives available for businesses, including:

The Florida Enterprise Zone Program

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.

The Florida Qualified Target Industry Tax Refund Program

Firms that create high-value jobs within specific industries may be eligible for this program.

The Florida Enterprise Zone Job Tax Credit Program

Firms that create new jobs in enterprise zones may be eligible for a tax credit of up to $2,500 per job created.

The Florida Sales Tax Exemption for Manufacturing Machinery and Equipment

This exemption applies to the purchase of manufacturing machinery and equipment. It can save businesses thousands of dollars.

The Florida Job Growth Grant Fund 

This program funds businesses that create new, high-paying jobs in Florida.

The Florida Research and Development Tax Credit

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.

A Low Corporate Income Tax Rate

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.

Save and Invest in Florida's Future

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. 

 

 


Bookmark & Share



User Comments


Be the first to comment on this post below!


Most Popular Articles