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Taxes
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Florida offers Sales and Use Tax Exemptions
on…
- Machinery and equipment used by a new or expanding Florida
business to manufacture, produce or process tangible personal
property for sale;
- Labor, parts and materials used in repair of and incorporated
into machinery and equipment;
- Electricity used in the manufacturing process;
- Certain boiler fuels (including natural gas) used in the
manufacturing process;
- Semiconductor, defense and space technology-based industry
transactions involving manufacturing equipment;
- Machinery and equipment used predominantly in research and
development;
- Labor component of research and development expenditures;
- Commercial space activity – launch vehicles, payloads and fuel,
machinery and equipment for production of items used exclusively at
Spaceport Florida;
- Aircraft parts, modification, maintenance and repair, sale or
lease of qualified aircraft;
- Production companies engaged in Florida in the production of
motion pictures, made for television motion pictures, television
series, commercial music videos or sound recordings.
To discuss if your company qualifies for a tax exemption,
contact
Brian Walters.
Florida has...
NO corporate income tax on limited
partnerships
NO corporate income tax on subchapter
S-corporations
NO state personal income tax guaranteed by
constitutional provision
NO corporate franchise tax on capital stock
NO state-level property tax assessed
NO property tax on business inventories
NO property tax on goods-in-transit for up to
180 days
NO sales and use tax on goods manufactured or
produced in Florida for export outside the state
NO sales tax on purchases of raw materials
incorporated in a final product for resale, including non-reusable
containers or packaging
NO sales/use tax on co-generation of
electricity
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