Type of Tax

Tax Description

Personal income Tax

None

State-Levied Property Tax

None

Business Inventory Tax

None

Corporate Franchise Tax

None on capital stock.

State Corporate Income Tax

5.5% of Federal Adjustments /
$5,000 of Net Income Exempted.

Occupational License Tax

A local tax for the privilege of engaging in certain specified types of businesses may be required by county governments and incorporated municipalities.

Sales and Use Tax

6% imposed upon the following:

6% sales and use tax applies to:

• Purchases of tangible personal property made in other states by persons or business entities for use in Florida.
• Manufacturers on the cost price of products removed from inventory for their own use.
• Sale of farm equipment is taxed at 3%.

Exemptions apply to:

• New and expanding manufacturers. Purchases of machinery and equipment used by a new Florida business to manufacture, produce or process tangible personal property for sale.
• Certain printing and publishing firms, silicon technology and for maintenance or repair of aircraft.
• Pollution control equipment.
• Electricity and steam used by manufacturers if 75% or more is used in the manufacturing process.
• Goods manufactured or produced in the state for export outside the state.
• Purchases of raw materials incorporated in a final product for resale, including nonreusable containers or packaging.
• Boiler fuels.
• Co-generation of electricity.
• Aircraft modification, maintenance and repair.
• Commercial space activity.
• Labor component of research and development expenditures.
• Entertainment industry.

Intangible Personal Property Tax

Intangible personal property is taxed at 1.5 mills.

Gross Receipts Tax

A tax levied upon utility providers.

Foreign Trade Zones

Duty Delayed or Exempt.

Real Estate Taxes (Land and Constructed Improvements)

Governmental Unit

Tax Description

State

The State of Florida does not levy taxes on land or buildings.

City/County

The property tax rate in effect is comprised as follows:

Baker County
City/County: 8.4599
Schools: 7.7610
Other: 1.6120
Total millage: 17.8329

Clay County
City/County: 8.7536
Schools: 7.779
Other: 5.462
Total millage: 21.9946

Duval County
City/County: 9.640
Schools: 8.042
Other: 0.5005
Total millage: 18.1825

Flagler County
City/County: 4.7716
Schools: 7.7110
Other: 3.9185
Total millage: 16.4011

Nassau County
City/County: 6.1821
Schools: 7.681
Other: 6.856
Total millage: 20.7191

Putnam County
City/County: 10.0000
Schools: 8.274
Other: 9.6034
Total millage: 27.877

St. Johns County
City/County: 4.9275
Schools: 7.849
Other: 8.4233
Total millage: 21.998

Tangible Personal Property Used in Business (Machinery and Equipment)

Governmental Unit

Tax Description

State

Personal property used in business is not taxed at the state level.

City/County

Tax is based on assessed value of depreciated property, and taxed at effective mileage rate. (Depreciation varies with equipment, however, typical non-high-tech equipment will be initially assessed at 94% of value with an annual (12-year) depreciation to a base of 29% of value.)

Intangible Tax

Governmental Unit

Tax Description

State

None.  There is no tax on the value of stocks, bonds and other taxable securities.

City/County

None

Inventory Tax

Governmental Unit

Tax Description

State

None - There is no tax on raw materials, work in progress, or finished goods.

City/County

None

Sales and Use Tax

Governmental Unit

Tax Description

State

6% on sales in Florida.

6% on sales in Florida exceptions:

• Goods in transit, i.e., products made in Florida but intended for use outside of the state are not subject to sales tax even though the sale and/or delivery may take place in Florida, e.g. aircraft or yachts manufactured and sold in FL but based elsewhere.
• The acquisition of machinery and equipment used in manufacturing is not subject to sales tax.
• Research and development - the labor component of the cost of developing a prototype product is exempt from Sales and Use Tax.

Duval County

1% local option.

Clay County

1% local option.

Nassau County

1% local option.

St. Johns County

No local option.

Baker County

1% local option.

Putnam County

No local option.

Flagler County

1% local option.

Personal Income Tax

Governmental Unit

Tax Description

State

None

City/County

None

State Corporate Income Tax

Governmental Unit

Tax Description

State

Rate is 5.5% of Florida's portion of Federal taxable income, less an exemption of $5,000. Apportionment factor is calculated as follows: see formula here.

City/County

None

Occupational License Tax

Governmental Unit

Tax Description

State

None.

City/County

Nominal, based on SIC and number of employees.

Unemployment Compensation Tax

Governmental Unit

Tax Description

State

This tax is 2.7% of gross payroll up to $7,000 per employee per year. After ten consecutive quarters, the company is rated between 0.2% - 5.4%.

City/County

None

Unitary Tax / Tax on Foreign Source Dividends

Governmental Unit

Tax Description

State

None

City/County

None

Foreign Trade Zone Availability

Governmental Unit

Tax Description

State

Not applicable

City/County

In place at Jacksonville International Trade Port and available as a sub-zone for other sites.

Impact Fees on New Development

Governmental Unit

Tax Description

State

Not applicable

City/County

There are no general development impact fees by the City of Jacksonville or Duval County.