Florida

Florida is one of only seven states that does not tax individual wage income. It does, however, assess a state corporate income tax. The state's intangible personal property tax was eliminated in 2007. More on Florida taxes can be found in the tabbed pages below.

Income Sales Property Estate Other

Personal income tax Florida residents pay no personal income tax. The state's intangible tax on stocks, bonds, and mutual and money market funds has been repealed for 2007. Sales tax Florida levies a 6 percent sales tax. Counties impose additional sales surtaxes in half-percent increments. For vehicle and mobile home sales, the applicable surtax rate is that of the county where the vehicle will be registered. Personal and real property taxes Property, or ad valorem, taxation provides local government funding in Florida. The Property Tax Administration Program, or PTA, administers the assessment and collection of taxes on all real, personal and centrally assessed property. Florida's Property Valuations & Tax Data book provides a comprehensive look at the latest available property tax numbers across the state. If you purchase a home in Florida, the tax on it is based on the just or fair market value of the property. Ad valorem taxes are assessed and collected annually by the county property appraiser. Taxpayers with questions about the process should review the Florida Property Taxpayers' Bill of Rights. A $25,000 homestead exemption is available to homeowners who meet certain requirements, mainly that the property is the taxpayer's primary residence. Additional exemptions are also available in several other taxpayer situations. Details on the various benefits can be found at the state's homestead exemption Web page.   The 2007 Florida Legislature provided additional tax relief for homeowners whose property was damaged by natural disasters. Lawmakers provided relief for owners of residential mobile homes and homestead property damaged by tornadoes that struck Florida Dec. 25, 2006, and Feb. 2, 2007. Lawmakers also extended the reassessment provision for homestead property rendered uninhabitable by a named storm or hurricane that struck the state in 2004. Prior law required the repairs to be finished by Jan. 1, 2008. Now the provision applies to repairs that are started by Jan. 1, 2008. To find out more about this law, contact your county property appraiser. Inheritance and estate taxes There is no inheritance tax and limited Florida estate tax related to federal estate tax collection. Other Florida tax facts Flags, both the U.S. and Sunshine State versions, are exempt from state and local sales taxes. Taxpayers can obtain tax assistance and information at one of the state's service centers. Florida residents can make child support payments online.

For more information, call the Department of Revenue Service Center at (800) 352-3671 or go to the Web site.

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