Personal Income Tax in Florida

April 13, 2006

	Visited: 131
	Not rated
	Rate:

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.

Save Money

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.