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Florida
By the Numbers

Florida Below is a snapshot of key features of Florida's tax system. (Scroll Down)
State & Local Revenue (FY10)
  • General Revenue, Own-Source (GROS): $107.9 billion
  • General Revenue as a Share of Income: 15.3%
  • Tax Revenue: $65.8 billion
  • Tax Revenue as Share of income: 9.3%
  • Personal Income Tax (Share of Tax Revenue): 0.0% (49 out of 51)
  • Corporate Income Tax (Share of Tax Revenue): 2.7 % ( 26 out of 51)
  • Sales & Excise Tax (Share of Tax Revenue): 46.9 % ( 10 out of 51)
  • Property Tax (Share of Tax Revenue): 42.9 % ( 7 out of 51)
  • Other Taxes (Share of Tax Revenue): 5.5 % (23 out of 51)
Personal Income Tax Features (2012)
  • Range of Tax Rates: N/A
  • Standard Deduction: N/A
  • Personal Exemption: N/A
  • Dependent Exemption: N/A
  • Earned Income Tax Credit (EITC): None
  • No broad based personal income tax
Corporate Income Tax Features (2012)
  • Range of Tax Rates: 5.50%
  • Income Level at Which Top Rate Applies: All
  • Combined Reporting: No
  • Apportionment Factor (Payroll): 25%
  • Apportionment Factor (Property): 25%
  • Apportionment Factor (Sales): 50%
Sales Tax Features (2012)
  • State Sales Tax Rate: 6.00%
  • Average Local Sales Tax Rate: 0.65%
  • Average Combined State & Local Sales Tax Rate: 6.65%
  • State Sales Tax Treatment of Groceries: Exempt
  • Local Sales Tax Treatment of Groceries: Exempt
  • Number of Services Taxed: 63 out of 168 surveyed (2007)
  • Streamlined Sales Tax Membership: No
  • Sales tax holiday offered in 2013
Property Tax Features (2012)
  • Homestead assessment increases capped at 3% per year.
  • Provides one of the largest property tax homestead exemptions in the country
Other Tax & Revenue Features (2012)
  • Gasoline Tax Rate (per gallon): $0.354
  • Diesel Tax Rate (per gallon): $0.305
  • Cigarette Tax Rate (per pack): $1.339
  • Estate or Inheritance Tax: No
  • Net Lottery Sales Per Capita: $198 (2010)
Tax Policy Oversight
  • Tax Expenditure Report: Yes
  • Tax Incidence Analysis Capability: None

Last Updated October 4, 2012

Sources & Glossary