State Taxes

Learn more about keeping your business compliant with state tax requirements.

Understanding Personal Income Tax in Florida

Florida does not have an income tax on individuals which provides some interesting planning opportunities.

Florida does not have a personal income tax. Florida imposes a tax on artificial entities such as corporations and limited liability companies, but doesn't impose an income tax on individuals, including on income passed through from S corporations and partnerships.

Work Smart

The fact that Florida doesn't impose a personal income tax can make your choice of entity for operating your business more important than ever. If it is possible to set up your business as a sole proprietor, partnership or S corporation, you will not have to pay Florida tax on your income. Of course, business considerations other than state tax implications must be taken into account when making a decision as to how to best operate your business. You may want to consult with your financial professional when making this important decision.

Category : Tax Center
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