Florida in Top Ten for Business Taxes
Florida ranked number five in the United States for ‘best business climate’ for the fourth straight year according to the 2015 State Business Tax Climate report conducted by the Tax Foundation.
The Tax Foundation looks at over 100 factors in order to create the annual ranking, including corporate tax, individual income tax, sales tax, unemployment insurance tax, and property tax to name a few.
States with the best tax systems tend to be the most competitive when attracting new businesses and are often the most effective at generating economic growth which leads to employment growth. When businesses move or open in Florida, they bring with them new jobs for the local communities. New jobs translates to more people working and therefore spending more money which allows for continued economic growth.
The Tax Foundation ranked states by individual tax categories as well. Florida was ranked 14 in corporate taxes, one in individual income taxes, 12 for sales taxes, three for unemployment insurance taxes, and 16 for property taxes. Florida attracts people from across the country not just for the sun and beaches, but also because of our lack of income tax as well as multiple other reasons.
For businesses and individuals, Florida is a good place to move.
If you have questions about the current state of real estate in Florida, find a Realtor at PanamaCityRealtors.com