Even if you don’t need another reason, here’s more…
There are a myriad of reasons to choose the Flagler Financial District as your new corporate home. But when you consider the range of incentives that may be available to your business as well as the personal advantages to you and your employees, choosing the District becomes an even easier decision.
For qualified businesses, the City of West Palm Beach can make available a variety of incentives that make it an easier decision to relocate. From financial assistance, to expedited permitting, and access to specialized grants and more, the City can tailor a corporate relocation package to meet your needs.
In addition, the State of Florida provides:
- 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 assessment
- No property tax on business inventories
- 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
Additionally, the State of Florida offers a variety of tax exemptions for a broad mix of business items, equipment, and activities rarely found anywhere in the country. The State also offers a variety of specialized grants and tax credits to qualified business.
For additional state, county or local incentives tailored for your needs, contact the City’s Director of Economic Development, Chris Roog.
With no state income tax in Florida, your move to West Palm Beach can be very rewarding. Here’s an example of savings:
Based on $500,000 annual income, annual tax comparison:
New York $44,100 Florida $0
New Jersey $44,850 Florida $0
Connecticut $34,950 Florida $0