According to a report by KPMG International, Orlando, Florida is one of the most tax-friendly major cities in the world, with Tampa, Florida following close behind. This is just one of many reasons why entrepreneurs open Florida businesses.
When you are starting a business or planning to move to a different city, there are not a lot of people who think about taxes, but that could be a major influence in your quality of life and cost of living. Florida is already known as one of the most business-friendly states, since it does not have a personal income tax, but these cities in Florida have received special recognition.
The report analyzed corporate income taxes, capital taxes, sales taxes, property taxes, miscellaneous local business taxes and statutory labor costs for the cities in the report.
In the United States, taxes are taken on various levels including Federal, State, and Local (or City) taxes. Although it is important to talk to a CPA about your individual tax needs, you can get a general idea of which states and cities will provide you with a general idea of where it would be best to live and start your business.
Here at Boyer Law Firm, P.L. we can assist you in incorporating your Florida business correctly to get you off to the right start. From there, we work with other professionals, such as Florida CPAs, to assist you with all of your needs as a Florida Entrepreneur and Florida business owner.