Business Environment

Palm Coast provides an ideal business climate for both established businesses and entrepreneurial ventures. Together, the city's forward-thinking leadership and innovative city planning foster an near-perfect environment for growth and long-term success. Companies located in Palm Coast benefit from a business-friendly regulatory environment, low cost of labor, and excellent colleges and universities. The tax advantages are significant. Florida has no state income tax and a tax climate that was ranked fourth best in the U.S. in the Tax Foundation’s 2023 Tax Index.

Florida has…

  • Florida is a right to work state
  • NO corporate income tax on limited partnerships
  • NO corporate income tax on subchapter S-corporations
  • NO state personal income tax
  • NO corporate franchise tax on capital stock
  • NO state-level property tax assessed
  • NO property tax on business inventories
  • NO sales tax on manufacturing machinery and equipment
  • NO property tax on goods-in-transit for up to 180 days
  • NO sales and use tax on goods manufactured or produced in Florida for export outside the state
  • NO sales tax on purchases of raw materials incorporated in a final product for resale, including non-reusable containers or packaging
  • NO sales/use tax on co-generation of electricity

TAX COMPARISONS

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ESTATE TAXES PAID BASED ON ESTATE VALUE

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STATE INCOME TAXES: MARRIED FILING JOINTLY

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CORPORATE INCOME TAXES PAID

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STATE INCOME TAXES: FILING SINGLE

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RESIDENTIAL REAL ESTATE TAXES