Does Your State Have a Sales Tax Holiday?
However well-intended they may be, sales tax holidays remain the same as they always have been—ineffective and inefficient.
4 min read
Florida Tax Rates, Collections, and Burdens
How does Florida’s tax code compare? Florida does not have a state individual income tax. Florida has a 5.50 percent corporate income tax. Florida has a 6.00 percent state sales tax rate, a max local sales tax rate of 2.00 percent, and an average combined state and local sales tax rate of 7.002 percent. Florida’s tax system ranks 4th overall on our 2024 State Business Tax Climate Index.
Each state’s tax code is a multifaceted system with many moving parts, and Florida is no exception. The first step towards understanding Florida’s tax code is knowing the basics. How does Florida collect tax revenue? Click the tabs below to learn more! You can also explore our state tax maps, which are compiled from our annual publication, Facts & Figures: How Does Your State Compare?
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All Related Articles
State and Local Sales Tax Rates, Midyear 2023
Compare the latest 2023 sales tax rates as of July 1st. Sales tax rate differentials can induce consumers to shop across borders or buy products online.
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How High Are Beer Taxes in Your State?
Taxes are the single most expensive ingredient in beer, costing more than the labor and raw materials combined.
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How Hard Do Distilled Spirits Taxes Bite in Your State?
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Ranking Property Taxes on the 2023 State Business Tax Climate Index
States are in a better position to attract business investment when they maintain competitive real property tax rates and avoid harmful taxes on tangible personal property, intangible property, wealth, and asset transfers.
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Compare Tobacco Tax Data in Your State
In the United States, tobacco is taxed at both the federal and state and sometimes even local levels. These layers of taxes often result in very high levels of taxation—the highest of any consumer item. The retail price of cigarettes, for instance, is more than 40 percent taxes on average. In some states, like Minnesota and New York, more than 50 percent of the price paid by consumers comes from taxes.
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Ranking Sales Taxes on the 2023 State Business Tax Climate Index
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America’s Progressive Tax and Transfer System: Federal, State, and Local Tax and Transfer Distributions
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