TALLAHASSEE, Fla. – April 17, 2014 – On April 15, millions of Americans filed their taxes and “those living in high-tax states have one thing in common: they would pay a lot less if they lived in Florida,” a memo issued by Enterprise Florida told out-of-state businesses. The memo appeared on business news and business websites throughout the day.
The memo included a quote from Governor Scott: “Since 2011, I have worked with the Florida Legislature to cut taxes 25 times, including jump-starting our manufacturing investment by eliminating the sales tax on manufacturing equipment, and property tax cuts for Florida homeowners and businesses,” Scott said. “These changes are part of my plan to create an opportunity economy in Florida. Already, more than 70 percent of Florida businesses are exempt from paying the business tax.”
Florida tax benefits cited
- No. 1 for individual income tax (Tax Foundation’s 2014 State Business Tax Climate Index)
- No. 1 tax climate in the southeast for business (Tax Foundation)
- No. 1 for individual capital gains tax rates (No tax) (Small Business & Entrepreneurship Council)
- No. 1 for individual dividends and interest tax rates (No tax) (Small Business & Entrepreneurship Council)
- No. 2 best state for business (Chief Executive)
- No. 2 best business climate (Business Facilities)
- No. 5 best business tax climate (Tax Foundation and Business Facilities)
- No. 6 (up from No. 10 in 2013) unemployment insurance tax rank
“The state’s low corporate taxes and zero personal income tax add to the long list of reasons that more businesses are locating or expanding in Florida,” said Secretary of Commerce Gray Swoope, who is also the president & CEO of Enterprise Florida.