Inheritance and Estate Tax and Inheritance and Estate Tax Exemptionįlorida does not have an inheritance or estate tax. Among those who may benefit are disabled and senior citizens, veterans and active-duty military service members, disabled first responders and others. Florida counties also provide qualified property owners with exemptions that can reduce their property tax bill. While Florida has no property tax on real estate, counties may levy property taxes. Examples include salaries paid to employees and credits for making investments in Florida. To assess corporate taxes, Florida starts with the company’s federal taxable income and then allows for certain tax incentives. Beginning in 2022, corporations pay a tax rate of 5.5%. The state of Florida imposes a tax on all corporations that do business or earn income in the state.
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