The United States places a relatively high burden on long-term capital gains income (gains on assets held for more than one year). The top federal tax rate is 20 percent. In addition, taxpayers with AGI over $200,000 ($...
The facts on Florida’s Tax Climate
0%individual income taxNone
5.5%corporate income taxFlat rate
$1,216property taxcollections per capita
Florida's Individual Income Tax System
Florida levies no individual income tax, joining six other states with the same policy: Alaska, Nevada, South Dakota, Texas, Washington, and Wyoming.
50-State Table of Individual Income Tax Rates
50-State Table of State Individual Income Tax Collections
50-State Table of State and Local Individual Income Tax Collections Per Capita
Florida's Corporate Income Tax System
Florida's corporate income tax system consists of a flat rate of 5.5%. That rate ranks 37th highest among states levying a corporate income tax. Florida's state and local corporate income tax collections per person were $106 in 2013 which ranked 35th highest nationally.
50-State Table of Corporate Income Tax Rates
50-State Table of State and Local Corporate Income Tax Collections Per Capita
50-State Table of State Corporate Income Tax Collections Per Capita
Florida Sales and Excise Taxes
Florida levies a 6% general sales or use tax on consumers, which is above the national median of 5.95%. The average local sales tax rate is an additional 0.7%. Florida's state and local governments collect $1155 per person in general sales taxes and $615 per person in excise taxes, for a combined figure of $1769, which ranks 13th highest nationally. Florida's gasoline tax stands at 36.58 cents per gallon, 7th highest nationally, while its cigarette tax stands at $1.34, 28th highest nationally.
50-State Table of State and Local General and Selective Sales Tax Collections Per Capita
Florida Property Tax Collections Average
Florida's state and local governments collected approximately $1,216 per person in property taxes in 2013, which ranks 28th nationally.
State and local property tax collections per capita by state
Tax Freedom Day Arrives on April 20th in Florida
Tax Freedom Day is the day when Americans have finally earned enough money to pay off their total tax bill for the year. In 2016, Florida taxpayers have to work until April 20th (29th earliest nationally) to pay their total tax bill.
Florida's State and Local Tax Burden Ranks 34th
Florida's 2012 tax burden of 8.9% ranks 34th highest in the nation, and is below the national average of 9.9%. Florida's taxpayers pay $3,738 per capita in state and local taxes.
Other States' State/Local Tax Burdens
Map of U.S. Showing all State's Burdens and Ranks
Historical Chart Comparing All States' State/Local Tax Burdens from 1977 to 2009
Florida's 2016 Business Tax Climate Index Ranks 5th
Florida ranks 4th on the Tax Foundation's State Business Tax Climate Index. The Index compares the states in five areas of taxation that impact business: corporate taxes (17th), individual income taxes (1st), sales taxes (17th), unemployment insurance taxes (3rd), and taxes on property (20th), including residential and commercial property.
State Business Tax Climate Index (full study)
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