Florida Ranked 5th Best State for Business Friendly Taxes
Posted by Benjamin Dona on Thursday, September 24th, 2009 at 6:13pm.
According to the 2010 State Business Tax Climate report released this week by the Washington D.C. based Tax Foundation, Florida remains among the top 10 states in the nation when it comes to “business friendly” taxes. Florida ranked 5th in this year's report and has had the best ranking among Southern states for several years in a row. A spokeswoman for the Tax Foundation stressed that the rankings don’t reflect how much money the taxes raise, but how broad and competitive the structure is compared to other states. Florida's advantage comes mostly from having a state constitution that prohibits an income tax.
The Tax Foundation report also looked at property taxes, unemployment taxes, corporate income taxes and sales taxes. Even though they included Florida’s now higher cigarette tax in overall sales taxes, it did not change the overall ranking. Additionally, Florida ranked 1st on individual income taxes, 15th on corporate income taxes, 32nd on sales taxes, 3rd on unemployment insurance taxes and 22nd in the nation on property taxes.
Not bad for a state that offers tons of fun in the sun as its number one commodity.
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About the Author
Benjamin Dona is the Broker and Owner of Gulf Coast Associates, Realtors in Bonita Springs, Florida. He holds two advanced degrees, an MBA and an MA, and has an extensive background in both business and marketing. In 1998, he founded Gulf Coast Associates, and formed a group of like-minded Realtor® associates dedicated to offering professional Southwest Florida real estate services by concentrating on information, education and the use of leading edge technologies. He also is a recognized expert on the "Net," a much-quoted and read blog author, and a contributor to both national and international news outlets. Benjamin is a member of the National Association of Realtors, the Florida Association of Realtors, and numerous local real estate boards throughout Southwest Florida.
Contact Benjamin Dona at 239-948-3955
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