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Florida Ranked 5th Best State for Business Friendly Taxes

Posted by Benjamin Dona on Thursday, September 24th, 2009 at 6:13pm.

Florida-The Sunshine StateAccording 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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4 Responses to "Florida Ranked 5th Best State for Business Friendly Taxes"

Green Bay Greg wrote:
Congrats on a great achievement for the state of Florida. I wish Wisconsin would be more pro-business from a state tax standpoint.

Oh well one can wish! I bet more business will start moving the companies to the gorgeous Florida area.

Posted on Saturday, September 26th, 2009 at 1:49am.

Benjamin wrote:
It's happening more and more.

I never thought I'd see it here, being we're a resort type destination.

I'm glad its occuring though, as our area definitely needs the job's they bring.

Posted on Saturday, September 26th, 2009 at 9:28am.

Jacci - Austin wrote:
Congrats, it seems like a great place to run a business. Oh and the whole beach and sunshine seems good too.

Posted on Saturday, January 23rd, 2010 at 1:28am.

Moraira wrote:
Sun and low taxes! Sounds like a great place to live to me.

Posted on Tuesday, January 26th, 2010 at 4:46pm.

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