• TAX PROGRAMS                                                            PrinterSM

    TAX ADVANTAGES

    There is no local income tax in Miami Beach.

    Additionally, Florida has many tax advantages for businesses:

    • No corporate income tax on limited partnerships;
    • No state personal income tax, constitutionally guaranteed;
    • No corporate franchise tax on capital stock;
    • No state-level property tax;
    • 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  for export;
    • No sales tax on purchases of raw materials incorporated in a final product for resale;
    • No sales and use tax on boiler fuels;
    • No sales and use tax on co-generation of electricity.


    TAX EXEMPTIONS

    Florida offers Sales and Use Tax Exemptions on a number of items; visit www.eflorida.com for more information. Exemptions include:
    Purchases of machinery and equipment to manufacture, produce, or process tangible personal property for sale;
    Electricity used in the manufacturing process;
    Labor component of research and development expenditures;
    Production companies engaged in Florida for the production of motion pictures, made for TV movies, television series, commercial advertisements, music videos or sound recordings
    .

    TAX INCENTIVE PROGRAMS 

    High Impact Performance Incentive Grant: is a negotiated grant used to attract and grow major high impact facilities in Florida. For additional information on qualifying for the grant please visit the Florida Department of Economic Opportunity.


    Qualified Target Industry Tax (QTI): is available for companies that create high wage jobs in targeted high value-added industries. For a list of qualifying incentives please click on the link below or visit Enterprise Florida.

    Qualified Target Industries

    Capital Investment Tax Credit: is used to attract and grow capital-intensive industries in Florida. It is an annual credit, provided for up to twenty years, against the corporate income tax. For more information please visit Enterprise Florida.


    Innovation Incentive Program: is used to attract major innovation businesses to spur development of key clusters. For more information please visit the Florida Department of Economic Opportunity.

     

    Targeted Jobs Incentive Fund (TJIF): is intended to spur business activity and promote the growth of Miami-Dade County's economy. The program offers cash incentives for existing Miami-Dade companies undertaking a business expansion that creates new jobs. For more information please visit Miami-Dade County Economic Resources.

     

 
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