Florida Tax Calculator 2023-2024: Estimate Your Taxes

The state also offers various tax credits and incentives for businesses, particularly job creation and specific industry investments. For small businesses and pass-through entities like S Corps and LLCs, the income is taxed at the federal level only, as Florida does not impose a personal income tax. If you split your time between Florida and another state that has a personal income tax, you must refer to the other state’s tax laws to determine whether you must pay income tax.

However, its state and local tax burden of 8.9 percent ranks it 34th nationally. While you might not have to file a tax return, there are many other ways the state collects money. Once you have a Florida business tax license, you’re required to file returns at the completion of each assigned collection period regardless of whether any sales tax was collected. When no sales tax was collected, you must file a “zero return.”Failure to submit a zero return can result in penalties and interest charges.

On top of the state sales tax, there may be one or more local sales taxes, as well as one or more special district taxes, each of which can range between 0.10 and 2 percent. Currently, combined sales tax rates in Florida range from 6.3 to 8.3 percent, depending on the location of the sale. In Florida, the corporate income tax rate is set at a competitive 5.5%, applied to the taxable income of corporations conducting business in the state. This rate is based on federal taxable income with specific adjustments defined by Florida law. Florida’s corporate tax structure includes an Alternative Minimum Tax (AMT) to ensure a minimum tax contribution from all corporations.

You should consult your own legal, tax or accounting advisors before engaging in any transaction. The content on this website is provided “as is;” no representations are made that the content is error-free. Homeowners must apply to receive an additional homestead exemption. If the deceased was a homestead property owner and has a surviving spouse, the property will continue to receive the homestead exemption in the surviving spouse’s name.

Florida Tax Rates, Collections, and Burdens

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However, you may be asked to provide evidence supporting your claim. The Florida DOR requires all businesses to “close their books” by filing a final sales tax return. This also holds true for business owners selling or otherwise transferring ownership of their business. The need to collect sales tax in Florida is predicated on having a significant connection with the state.

Sales Tax

View how much tax you may pay in other states based on the filing status and state entered above. Employers will pay $7 to $378 per employee in state unemployment insurance tax in 2025, according to the website. Bankrate has partnerships with issuers including, but not limited to, American Express, Bank of America, Capital One, Chase, Citi and Discover.

Corporate Income Tax Rates in Europe, 2025

• This page lists an outline of the sales tax rates in Florida.
• When you use Taxfyle, you’re guaranteed an affordable, licensed Professional.
• The state sales tax, set at 6% as of 2023, is often combined with additional local sales taxes, which vary by county.
• In-state and collecting out-of-state dealers must collect the sales tax rate in effect where the transaction or delivery occurs.
• Failure to do so can lead to penalties and interest charges.

Implement our API within your platform to provide your clients with accounting services. They are the wage base, range of rates, number of schedules. Florida DMV fees not based on the value of the vehicle, rather on its weight.

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It’s one of just seven states that don’t collect personal income tax, allowing residents to benefit from tax-free pensions and retirement pay, along with no state taxes on Social Security or investment income. While Florida has no state property tax on real estate, counties may levy property taxes. Florida counties also provide qualified property owners with exemptions that can reduce their property tax bill.

Among those who may benefit are disabled and senior citizens, veterans and active-duty military service members, disabled first responders and others. Retail sales taxes are an essential part of most states’ revenue toolkits, responsible for 32 percent of state tax collections and 13 percent of local tax collections (24 percent of combined collections). In the map of Florida above, the 67 counties in Florida are colorized based on the maximum sales tax rate that occurs within that county. Counties marked with a in the list below have a florida tax rate county-level sales tax. You can use our Florida sales tax calculator to determine the applicable sales tax for any location in Florida by entering the zip code in which the purchase takes place.

• While Florida is recognized for its absence of state income tax, it does levy other types of state taxes.
• Once you’ve purchased the business, you’ll be held responsible for all outstanding Florida sales and use tax liability.
• If you’re in the process of acquiring a business, it’s strongly recommended that you contact the Florida DOR and inquire about the current status of the potential acquisition.
• Unemployment insurance tax rates, which Florida calls the reemployment tax, range from 0.1% to 5.4% for 2025, according to the website.
• Counties marked with a in the list below have a county-level sales tax.
• Avalara can automate your multi-state sales tax returns, let you know when you’ve triggered nexus, and more.

For additional information, see the Florida Department of Revenue Business Owner’s Guide and Florida sales tax due on sales sourced to Florida. The offers that appear on this site are from companies that compensate us. But this compensation does not influence the information we publish, or the reviews that you see on this site. We do not include the universe of companies or financial offers that may be available to you. Localities can add as much as 2%, and the average combined rate is 7.002%, according to the Tax Foundation. That means that if you buy a product outside of the state and no tax is collected on that purchase, you are required to file a Sales and Use Tax Return with the Florida Department of Revenue.