Starting a business in Florida
Florida Starting A Business
Florida ranks fourth in the nation in the number of expanding or relocating businesses.
If you have a special skill, industry knowledge and or a lifetime interest, Florida may be the best place for you to consider owning and or starting a business.
Florida has a wonderful spirit of innovation. From the Aerospace industry to Art galleries, it all has a place here.
In the coastal areas it’s possible to have a business that caters to locals and the tourists. This seems to be the best of both worlds depending on what business you’re in.
For more specific information on incorporating and business licenses, go to www.myflorida.com and www.sunbiz.org
Rents will obviously vary greatly. Shops on Los Olas Blvd in Ft Lauderdale and Duval street in Key West charge extremely high rents per sq ft. However they also make lots of money due to thousands of tourists and locals daily.
For more information on what the business climate is like, check the different area links and their chamber of commerce.
Florida's Advantages by the Numbers:
Compared with the other U.S. states, Florida:
• Is the nation's 4th most populous state (Census, 2003)
• Has the 4th largest labor force, and the 15th lowest unemployment rate (BLS, 2003)
• Has the 4th highest number of business establishments (BLS, 2002)
• Has the 4th largest Gross State Product, making it the 8th largest economy in the western hemisphere, and the 15th largest economy in the world (BEA, 2001)
• Ranks 4th in total employment in high-tech industries (AeA Cyberstates, 2005)
• Is the 9th largest producer of exported goods (MISER, 2003)
• Is the 9th largest recipient of Foreign Direct Investment (BEA,2002)
State and Local Incentives, Florida Tax Advantages
Some of the more significant advantages to living and establishing businesses in Florida, with respect to taxes are:
• No state income tax
• No corporate income tax on sub-chapter S corporations
• First $5000 of taxable income apportioned to Florida is exempt
• No state property tax on inventory or equipment
• No business inventory tax
• No corporate franchise tax on capital stock
• No corporate tax on limited partnerships, individuals, estates and private trusts
• No collected or assessed state property tax
• No sales tax on "boiler fuels" used at a fixed Florida location in an industrial manufacturing, processing or compounding process
• No sales and use tax on goods manufactured or produced in Florida for resale or export outside Florida
• Corporation accounts receivable (one third) exempt from intangible property tax
• Exemption of employee stock options from employer
• No property tax on goods-in-transit for up to 180 days
•
While these are in themselves incentives, the following are additional incentives offered by the State and local government working together to provide you with an environment conducive to your success.
• Ad Valorem Tax Exemption (real and personal property) is offered by the local government and is based on the financial impact projected on the County (number of employees, capital expenditure, etc.).
Florida ranks fourth in the nation in the number of expanding or relocating businesses.
If you have a special skill, industry knowledge and or a lifetime interest, Florida may be the best place for you to consider owning and or starting a business.
Florida has a wonderful spirit of innovation. From the Aerospace industry to Art galleries, it all has a place here.
In the coastal areas it’s possible to have a business that caters to locals and the tourists. This seems to be the best of both worlds depending on what business you’re in.
For more specific information on incorporating and business licenses, go to www.myflorida.com and www.sunbiz.org
Rents will obviously vary greatly. Shops on Los Olas Blvd in Ft Lauderdale and Duval street in Key West charge extremely high rents per sq ft. However they also make lots of money due to thousands of tourists and locals daily.
For more information on what the business climate is like, check the different area links and their chamber of commerce.
Florida's Advantages by the Numbers:
Compared with the other U.S. states, Florida:
• Is the nation's 4th most populous state (Census, 2003)
• Has the 4th largest labor force, and the 15th lowest unemployment rate (BLS, 2003)
• Has the 4th highest number of business establishments (BLS, 2002)
• Has the 4th largest Gross State Product, making it the 8th largest economy in the western hemisphere, and the 15th largest economy in the world (BEA, 2001)
• Ranks 4th in total employment in high-tech industries (AeA Cyberstates, 2005)
• Is the 9th largest producer of exported goods (MISER, 2003)
• Is the 9th largest recipient of Foreign Direct Investment (BEA,2002)
State and Local Incentives, Florida Tax Advantages
Some of the more significant advantages to living and establishing businesses in Florida, with respect to taxes are:
• No state income tax
• No corporate income tax on sub-chapter S corporations
• First $5000 of taxable income apportioned to Florida is exempt
• No state property tax on inventory or equipment
• No business inventory tax
• No corporate franchise tax on capital stock
• No corporate tax on limited partnerships, individuals, estates and private trusts
• No collected or assessed state property tax
• No sales tax on "boiler fuels" used at a fixed Florida location in an industrial manufacturing, processing or compounding process
• No sales and use tax on goods manufactured or produced in Florida for resale or export outside Florida
• Corporation accounts receivable (one third) exempt from intangible property tax
• Exemption of employee stock options from employer
• No property tax on goods-in-transit for up to 180 days
•
While these are in themselves incentives, the following are additional incentives offered by the State and local government working together to provide you with an environment conducive to your success.
• Ad Valorem Tax Exemption (real and personal property) is offered by the local government and is based on the financial impact projected on the County (number of employees, capital expenditure, etc.).