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The Florida Income Tax Calculator

An Overview of Florida Taxes 

Florida is known for having low taxes. Delving into the numbers, the state mostly lives up to the reputation. Despite having no income tax. Though, there are some taxes that Florida citizens still have to pay. Some Florida tax facts are that the income tax none. Sales tax, 6% – 8.50%. Property tax: 0.83% average effective rate. The gas tax: 4 cents per gallon of regular gasoline and diesel.

Florida’s official nickname is The Sunshine State. As well it might be The Low-Tax State. That’s because Florida is the only state east of the Mississippi. That doesn’t collect income taxes of any kind. The state does charge a sales tax rate of 6% though. The most counties charge sales taxes of their own. There are, though, some taxes that are higher in Florida than on the other places in the U.S.

A particular financial advisor in Florida can help you understand how taxes fit. Right into your overall financial goals. The financial advisors can also help with investing and financial plans. By this including retirement, homeownership, insurance and more. In order to make sure you are preparing for the future.

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The Florida Income Taxes

Come tax season, taxpayers in Florida can finish up their national taxes. Then kick back and enjoy the sunshine. No state income tax means no state earnings tax return. It means there’s no need to research special state discounts and loans. For high-income earners, it means there is a large reason to take their skills to South Beach.

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The Florida Sales Taxes 

The statewide sales tax rate in Florida is 6%. Additionally, some counties also collect their own sales taxes. This ranging from 0.5% to 2.5%, which means that actual rates. Those paid in Florida may be as high as 8.5%. According to the Tax Foundation, the average sales tax rate in Florida is 7.05%. The 23rd-highest in the country. There is no sales tax charged at the city level in Florida. Here are the combined state and local sales tax rates for each of Florida’s counties.

Most consumer products are subject to these tax rates. By including all electronics, clothing, cleaning supplies and furniture. However, most groceries and medicine are free. Additionally, some services may require payment of the sales tax. For example, admission to one of Florida’s famous amusement parks is taxable. As are detective services and many rental services. Like most states, Florida also enforces a use tax. That means that if you buy a product outside of the state. By no tax is collected on that purchase. You are required to file a Sales and Use Tax Return with the Florida Department of Revenue.

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The Florida Property Tax

If you’re thinking about buying a beach house somewhere along Florida’s 8,436 miles of ocean shoreline, you’ll want to take property taxes into account. Florida’s average effective property tax rate is 0.83%. The one which is well below the national average. That means that, on average, Floridians pay 0.83%. All of their home’s value in property taxes.

Because property tax is only collected at the county level in Florida. It ranges significantly depending on where you live. In Miami-Dade County, for example. The effective rates are 0.97% of home value. That means if you own a home worth $300,000. You could expect to pay around $2,910 in property taxes annually.

If you are thinking about buying a home in Florida. They are planning on using a mortgage. To take a look at our Florida mortgage guide. For all data on rates and getting a contract in Florida.

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The Florida Communication Services Tax

In addition to the above taxes. Florida also collects a special communication services tax. This on all phone, internet and television services. The total tax rate is 7.44%, but service providers. They are only allowed to directly bill consumers for 5.07% of that. For the outstanding 2.37%, consumers must report and pay the tax independently. For satellite-based services like DirecTV. The whole rate is even higher at 11.44%. So if you are a big spender on high-speed internet. The multiple phone lines and the top-of-the-line cable TV packages. But require a somewhat higher price-tag when it comes time to pay up.

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Other Extra Florida Taxes

Florida Gas Tax has the lowest gas tax in the nation. Floridians pay a 4 cent per gallon tax on regular gasoline and a 4 cent per gallon tax on diesel fuel. The estate tax if you’re looking to pass on that beach house in Miami. All to your heirs, you can rest easy. As of December 31, 2004, there’s no estate tax in Florida.

Alcohol tax on alcohol is among the highest in the U.S. The Sunshine State’s tax on beer is 48 cents per gallon. The tax on spirits is $6.50 per gallon. The tax on wine is $2.25 per gallon. The cigarette tax according to the Tax Foundation. Florida has a cigarette tax of $1.339 per pack.