BUSINESS ASSISTANCE & INCENTIVES 77
The advantages of doing business in Greater Fort
Lauderdale carry over to the personal side, where
individuals pay no state or local personal income
taxes, giving companies an added enticement in
recruiting technology specialists, and other talent.
A stable and highly favorable tax climate enhances
profitability for a wide variety of businesses
looking to grow and prosper in a Florida location.
Florida has . . .
- NO corporate income tax on limited partnership
- 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 boiler fuels
- NO sales/use tax on co-generation of electricity
Florida Offers Sales and Use Tax Exemptions On . . .
- Semiconductor, defense and space technology based industry transactions involving manufacturing or research equipment
- Purchases of 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 that qualify for sales tax exemption upon purchase
- Electricity used in the manufacturing process
- Aircraft parts, modification, maintenance and repair, sale or lease of qualified aircraft
- Commercial space activity – launch vehicles, payloads and fuel, machinery and equipment for production of items used exclusively at Spaceport Florida
- Labor component of research and development expenditures
- Any facility, device, fixture, machinery or equipment required for pollution control,
abatement or monitoring of equipment used in manufacturing processing or
compounding items for sale
Access to Capital
Florida provides business leaders easy access to
capital. Whether a business needs venture capital,
experienced commercial lenders, or access to
federal and state programs, Florida has full access
to capital resources.
Venture capitalists can provide the funding
needed to jump-start a business. These venture
capital firms or angel investors are willing to
provide an entrepreneur with seed capital in the
hopes of gaining a substantial return when the
business takes off. Florida has an entrepreneurial
networking group called The Florida Venture
Forum that is a resource of proven value.
For more information, visit www.flventure.org.
Emerging entrepreneurs can receive assistance
through results-driven business incubators such
as the Innovation Hub and Venture Formula at
Broward College campuses in Fort Lauderdale,
Financial assistance, streamlined regulatory processes, low taxes and
innovative and highly ranked workforce development support contribute
to Greater Fort Lauderdale’s business-friendly environment.
Greater Fort Lauderdale offers relocating and expanding
businesses a wide range of benefits
More information can be found on: https://www.gflalliance.org/clientuploads/Business%20Intelligence/Sourcebook%202017/Business%20Assistance%20%20Incentives.pdf
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