Favorable Tax Structure

Compared to other major metropolitan areas in the United States and throughout the world, Miami-Dade County offers businesses of all sizes and industries a very favorable tax structure. Companies enjoy relatively low sales and property taxes and there are no local personal or local corporate income taxes. On the state level, businesses and individuals pay no personal income taxes. Florida has a comparatively low corporate income tax rate of 5.5 percent, with no inventory tax, no unitary tax and several sales tax exemptions. To learn more about local and state business incentives view our Business Incentives Summary.

Miami-Dade County’s tax structure places it in a competitive position with other metropolitan areas. Businesses in Miami-Dade County enjoy: 

  • NO local corporate income taxes 
  • NO state personal income taxes 
  • NO local personal income taxes
  • NO property tax on business inventories 
  • NO corporate tax on limited partnerships 
  • NO property tax on goods in transit for up to 180 days 
  • NO sales and use tax on goods manufactured or produced in the state for export outside the state 
  • NO sales tax on purchases of raw materials incorporated in a final product for resale 
  • NO sales/use tax on boiler fuels 
  • NO sales/use tax on co-generation of electricity 
  • NO franchise tax on capital stock 
  • Sales/use tax exemption for aircraft modification, maintenance and repair 
  • Sales tax exemption on labor component of R&D expenditures 
  • Sales/use tax exemption for the entertainment industry 
  • Foreign source dividends are deleted from the corporate income tax base 

TAX COMPARISONS - METROPOLITAN AREAS

 

Personal

Income Tax (%)

Corporate

Income Tax (%)

Sales Tax (%)

Metro Areas

State

Local

State

Local

State

Local

Miami-Dade

0.0

0.0

5.5

0.0

6.0

1.0

New York

4.0-8.82

2.9-3.88

7.1

8.85

4.0

4.875

Chicago

5.0

0.0

9.5

0.0

6.25

3.0

Los Angeles

1.0-12.3

0.0

8.84

0.0

7.5

2.0

Houston

0.0

0.0

1.0

0.0

6.25

2.0

Atlanta

01.0-6.0

0.0

6.0

0.0

4.0

4.0