Tax policy in Florida

in Florida

Fiscal Budgets Florida state budget and finances Tax policy in Florida Finance Financial regulation in Florida Pensions Public pensions in Florida Pension health in Florida Civil liberties Affirmative action in Florida Campaign finance requirements in Florida Campaign finance requirements for Florida ballot measures Nonprofit regulation in Florida Education Charter schools in Florida Higher education in Florida Public education in Florida School choice in Florida Elections Ballot access Ballot access requirements for political candidates in Florida Ballot access requirements for political parties in Florida Political parties in Florida Ballot access requirements for presidential candidates in Florida Redistricting in Florida Voting in Florida Energy and Environment Energy policy in Florida Fracking in Florida Oil and gas extraction on federal land in Florida Endangered species in Florida Environmental policy in Florida Healthcare Healthcare policy in Florida Medicaid spending in Florida Effect of the Affordable Care Act in Florida Immigration Immigration in Florida

This article does not contain the most recently published data on this subject. If you would like to help our coverage grow, consider donating to Ballotpedia.

Tax policy in Florida

Tax rates in 2017

Personal income tax: None

State sales tax: 6.00%

Corporate income tax: 5.50%

Tax revenues in 2016

Total tax collections: $37.64 billion

Tax collections per capita: $1,826

Total state expenditures • State debt • Florida state budget and finances

Florida generates the bulk of its tax revenue by levying a general sales tax and select sales taxes (otherwise known as excise taxes). The state derives its constitutional authority to tax from Article VII of the state constitution.^[1][2]

Tax policy can vary from state to state. States levy taxes to help fund the variety of services provided by state governments. Tax collections comprise approximately 40 percent of the states' total revenues. The rest comes from non-tax sources, such as intergovernmental aid (e.g., federal funds), lottery revenues and fees. The primary types of taxes levied by state governments include personal income tax, general sales tax, excise (or special sales) taxes and corporate income tax.^[3]

Tax rates

Personal income tax

See also: Personal income tax

Florida did not utilize a personal income tax in 2017.^[4]

The table below summarizes personal income tax rates for Florida and neighboring states in 2017.^[4]

Personal exemptions

States that collect a personal income tax allow individuals to claim personal exemptions on income taxes each year. The personal exemption indicates that only a person's income above a certain level is subject to taxation. ^[5]

Exemptions work by reducing the amount of an individual's taxable income. Both state and federal taxes allow exemptions. The state exemptions for Florida and its neighboring states as reported by the Tax Policy Center are reported in the chart below.^[6]

Capital gains tax

See also: Capital gains tax

A capital gains tax is a tax levied on the profit gleaned from the sale of a capital asset. Examples of capital assets include stocks, businesses, land parcels, homes, personal items and more. Capital gains are taxable at both the federal and state levels. While the federal government taxes capital gains at a lower rate than regular personal income, states usually tax capital gains at the same rates as regular income. ^[7][8][9]

The table below summarizes uppermost capital gains tax rates for Florida and neighboring states in 2015.

Sales tax

See also: Sales tax

Almost all states employ a statewide sales tax, which ranges from 2.9 percent in Colorado to 7.25 percent in California. Additionally, many states allow the levying of local sales taxes, which are then added to the state's tax.

Florida's state sales tax was 6.00% percent in 2017. The average local tax was about 0.80% percent, meaning that the average combined sales tax was about 6.80% percent. The table below displays the state tax rates, average local tax rates, and average combined tax rates for Florida and its neighboring states.^[10]

The table below summarizes sales tax rates for Florida and neighboring states in 2017 as well as the state's policy with respect to types of items commonly exempted from sales tax (i.e., food, prescription drugs and nonprescription drugs).^[11]

Excise taxes

See also: Excise taxes

Excise taxes, also known as selective sales or differential commodity taxes, are levied for the sales of specific goods or services. Excise taxes are considered indirect taxes because they are not charged directly to individuals. In most cases, the excise tax is paid by the producer or seller of an item. The cost of the tax is then included in the sale price of the item and passed on to the consumer. The tables below provide excise tax rates for motor fuel, alcohol and cigarettes in Florida and neighboring states.^{[12][13][14][15]}

Corporate income tax

See also: Corporate income tax

Florida levies a corporate income tax rate of 5.5 percent. The table below compares the corporate income tax rates of some of its neighboring states.^[16][17]

Property tax

See also: Property tax

Most often, property tax applies to real estate, although some states levy property taxes on other types of personal property, such as automobiles. Generally speaking, an individual's property tax liability is determined by the tax rate and the tax base, which is "determined by both the assessed value of the property and ... the share of the assessed value that is subject to tax." To learn more about property taxes, including tabulation methods, see this page. Property tax rates can vary substantially from locality to locality within a state.^{[18][19][20] [18][19]}

The table below provides the mean amount of property taxes paid in 2012, as well as property tax as a mean percentage of home value for 2014, in Florida and neighboring states.^[18]

The table below lists per capita state and local property tax collections for Florida and neighboring states for fiscal year 2013.^[21]

Estate and inheritance taxes

See also: Estate and inheritance taxes

Estate and inheritance taxes are levied on the property of deceased individuals (decedents). Generally speaking, an estate tax is applied to the value of a decedent's property and is paid from the estate before distribution to any heirs. By contrast, an inheritance tax is paid by the heir or heirs of a decedent's assets.^[22][23][24]

Florida does not levy an estate tax, although residents are liable for the federal estate tax. The table below summarizes the estate tax rates for Florida and neighboring states in 2016.^[24]

Tax revenues

See also: Florida state budget and finances

The table below breaks down state government tax collections by source in 2016 (comparable figures from surrounding states are also provided to give additional context). Figures for all columns except "2016 population" and "Per capita collections" are rendered in thousands of dollars (for example, $2,448 translates to $2,448,000). Figures in the columns labeled "2016 population" and "Per capita collections" have not been abbreviated.^[25]

The table below lists 2016 tax collections by source as percentages of total collections. About 80.8 percent of Florida's total state tax collections came from sales taxes and gross receipts.^[25]

Tax ballot measures

Voting on taxes
Ballot measures
By state
By year
Not on ballot
Local City taxes County taxes School taxes Property taxes Sales taxes Income taxes Other taxes

See also: Taxes on the ballot and List of Florida ballot measures

Ballotpedia has tracked the following ballot measures relating to taxes in Florida.

1. Florida Amendment 6, Increase in Low-Income Senior Homestead Tax Exemption Amendment (2006)
2. Florida Amendment 7, Exemption for Property Value Increases for Senior Living Quarters Amendment (2002)
3. Florida Amendment 7, Senior Disabled Veterans' Ad Valorem Tax Discount Amendment (2006)
4. Florida Amendment 1, Historic Property Ad Valorem Tax Exemption Amendment (1998)
5. Florida Amendment 3, Low-Income Senior Homestead Tax Exemption Amendment (1998)
6. Florida Amendment 1, Approval for New Constitutionally-Imposed Taxes and Fees Initiative (1996)
7. Florida Amendment 4, Everglades Sugar Fee Initiative (1996)
8. Florida Amendment 4, Initiatives on Raising Government Revenue Initiative (1994)
9. Florida Amendment 10, Homestead Property Valuation Increases Initiative (1992)
10. Florida Amendment 2, Homestead Property Tax Exemption for Previously Deployed Military Members Amendment (2010)
11. Florida Amendment 1, Property Taxation and Assessment Amendment (January 2008)
12. Florida Amendment 3, Property Value Assessment Exemptions Amendment (2008)
13. Florida Amendment 6, Assessment of Waterfront Property Amendment (2008)
14. Florida Amendment 8, Sales Tax for Community College Funding Amendment (2008)
15. Florida Amendment 4, Property Assessments and Homestead Tax Exemption Amendment (2012)
16. Florida Amendment 2, Injured Veterans' Homestead Property Tax Discount Amendment (2012)
17. Florida Amendment 10, Tax Exemptions for Municipal and Local Property and Communications with Local Officials Amendment (1998)
18. Florida Amendment 9, Surviving Spouse Homestead Property Tax Exemption Amendment (2012)
19. Florida Amendment 10, Tangible Personal Property Exemption Amendment (2012)
20. Florida Amendment 5, Second Gas Tax Limitation Amendment (1980)
21. Florida Amendment 1, Homestead and Personal Property Exemption Amendment (1984)
22. Florida Amendment 8, Levy on Gross Receipts for Public Education Construction Amendment (1984)
23. Florida Amendment 3, Homestead Tax Exemption Amendment (1986)
24. Florida Amendment 5, Widower Property Tax Exemption Amendment (1988)
25. Florida Amendment 3, Historic Property Tax Exemption Amendment (1992)
26. Florida Amendment 6, County and Municipality Sales Tax Amendment (1992)
27. Florida Amendment 5, Taxpayers' Bill of Rights Amendment (1992)
28. Florida Amendment 7, Taxes, Tax Exemptions, and Government Finances Amendment (1978)
29. Florida Amendment 13, Stock in Trade and Inventory Ad Valorem Tax Exemption Amendment (1966)
30. Florida Amendment 5, Motor Vehicle Definition for Taxation Amendment (1965)
31. Florida Amendment 12, Second Gas Tax Extension Amendment (1964)
32. Florida Amendment 13, Property Tax Exemption in Sarasota County Amendment (1964)
33. Florida Amendment 1, Water Management Taxes Amendment (March 1976)
34. Florida Amendment 1, School Construction Program Supported by Bonds Amendment (1974)
35. Florida Amendment 2, Transportation Bonds Amendment (1974)
36. Florida Amendment 3, Office of Tax Assessor Amendment (1974)
37. Florida Amendment 7, Taxes for Capital Improvement Purposes for Schools Amendment (1970)
38. Florida Amendment 4, Pari-Mutuel Excise Tax Funds Allocation Amendment (1960)
39. Florida Amendment 7, Elimination of the Office of County Special Tax School District Trustees Amendment (1956)
40. Florida Amendment 1, Fuel Taxes Amendment (1948)
41. Florida Amendment 7, County Tax Assessor for St. Lucie County Amendment (1948)
42. Florida Amendment 10, County Tax Assessor for Pinellas County Amendment (1948)
43. Florida Amendment 8, County Tax Assessor for Broward County Amendment (1948)
44. Florida Amendment 9, County Tax Assessor for Volusia County Amendment (1948)
45. Florida Amendment 5, County Tax Assessor for Municipal Taxes Amendment (1954)
46. Florida Amendment 6, County Tax Assessor for Monroe County Amendment (1954)
47. Florida Amendment 7, Monroe County Tax Assessor Amendment (1952)
48. Florida Amendment 9, Lee County Tax Assessor Amendment (1952)
49. Florida Amendment 2, County Tax Assessor for Hillsborough County Amendment (1946)
50. Florida Amendment 3, County Tax Assessor for Bay County Amendment (1946)
51. Florida Amendment 1, Tax Rates Amendment (1944)
52. Florida Amendment 9, Corporate Property Tax Exemption Amendment (1942)
53. Florida State Ad Valorem Property Taxes Amendment (1940)
54. Florida Use of Parimutuel Tax Funds Amendment (1940)
55. Florida Widow Tax Exemption Amendment (1940)
56. Florida Homestead Tax Exemption Amendment (1938)
57. Florida Amendment 10, County Tax Assessor for Hillsborough County Amendment (1944)
58. Florida Amendment 2, Homestead Tax Exemption Amendment (1934)
59. Florida Amendment 6, Movie Studio Tax Exemption Amendment (1934)
60. Florida Industrial Plant Tax Exemption Amendment (1930)
61. Florida Inheritance Tax Amendment (1930)
62. Florida Motor Vehicle Taxation Amendment (1930)
63. Florida Prohibition of Income and Inheritance Taxes Amendment (1924)
64. Florida Special Tax School District Bonds Amendment (1924)
65. Florida Taxation and Exemptions Amendment (1924)
66. Florida Creation of School Districts and Taxes Amendment (1922)
67. Florida Maximum School Tax Amendment (1918)
68. Florida Widows' Tax Exemption Amendment (1916)
69. Florida County Officers Amendment (1914)
70. Florida Tax for State Educational Institutions Amendment (1908)
71. Florida Maximum County School Tax Amendment (1904)
72. Florida Manufacturing Municipal Tax Exemption Amendment (1904)
73. Florida Amendment 3, High Water Recharge Lands Classification Amendment (1988)
74. Florida Amendment 1, Ad Valorem Tax Relief Initiative (March 1980)
75. Florida Amendment 1, Renewable Energy Tax Exemption Amendment (October 1980)
76. Florida Amendment 3, Local Ad Valorem Tax Exemption Amendment (October 1980)
77. Florida Amendment 4, Local Homestead and Ad Valorem Tax Exemptions Amendment (October 1980)
78. Florida Amendment 5, Taxation of Business Inventories and Livestock Amendment (October 1980)
79. Florida Property Tax Exemptions for Senior Citizens, Amendment 5 (2016)
80. Florida Amendment 1, Disregard Flood Resistance Improvements in Property Value Assessments Measure (2022)
81. Florida Amendment 3, Additional Homestead Property Tax Exemption for Certain Public Service Workers Measure (2022)
82. Florida Property Tax Exemptions for Renewable Energy Equipment, Amendment 4 (August 2016)
83. Florida Amendment 5, Two-Thirds Vote of Legislature to Increase Taxes or Fees Amendment (2018)
84. Florida Amendment 11, Senior Low Income Homestead Tax Exemption Amendment (2012)
85. Florida Amendment 4, Conservation Property Tax Exemption Amendment (2008)
86. Florida Amendment 8, Funding and Bonds for Education Amendment (1992)
87. Florida Amendment 5, Annual Inflation Adjustment for Homestead Property Tax Exemption Value Amendment (2024)

Recent news

The link below is to the most recent stories in a Google news search for the terms Florida taxes. These results are automatically generated from Google. Ballotpedia does not curate or endorse these articles.

See also

• Florida
• Florida state budget and finances
• Personal income tax
• Sales tax
• Corporate income tax
• Property tax

External links

• Tax Policy Center
• Federation of Tax Administrators
• Tax Foundation

Footnotes

v • e Budget policy Budget background Government budgets • Cost of state transparency websites • State budget issues • Public employee salaries • Public pensions • States with spending online • Glossary of state budget terms • Total state expenditures • State spending by function as a percent of total expenditures State budget and finance pages Alabama • Alaska • Arizona • Arkansas • California • Colorado • Connecticut • Delaware • Florida • Georgia • Hawaii • Idaho • Illinois • Indiana • Iowa • Kansas • Kentucky • Louisiana • Maine • Maryland • Massachusetts • Michigan • Minnesota • Mississippi • Missouri • Montana • Nebraska • Nevada • New Hampshire • New Jersey • New Mexico • New York • North Carolina • North Dakota • Ohio • Oklahoma • Oregon • Pennsylvania • Rhode Island • South Carolina • South Dakota • Tennessee • Texas • Utah • Vermont • Virginia • Washington • West Virginia • Wisconsin • Wyoming Tax policy background Personal income tax • Sales tax • Corporate income tax • Property tax • Excise taxes • Estate and inheritance taxes • Capital gains tax State tax policy pages Alabama • Alaska • Arizona • Arkansas • California • Colorado • Connecticut • Delaware • Florida • Georgia • Hawaii • Idaho • Illinois • Indiana • Iowa • Kansas • Kentucky • Louisiana • Maine • Maryland • Massachusetts • Michigan • Minnesota • Mississippi • Missouri • Montana • Nebraska • Nevada • New Hampshire • New Jersey • New Mexico • New York • North Carolina • North Dakota • Ohio • Oklahoma • Oregon • Pennsylvania • Rhode Island • South Carolina • South Dakota • Tennessee • Texas • Utah • Vermont • Virginia • Washington • West Virginia • Wisconsin • Wyoming Comparative analysis of state debt Federal outlays to state government (2014-2017) • State tax revenue projections and shortfalls (2020-2021) • Proportion of state government general revenues from the federal government (2014-2018) • State debt per capita (2014-2018) • State unfunded public pension liabilities, 2003-2018