If you are considering buying a franchise opportunity, there is no better place to look than in Florida. That’s because the Sunshine State offers some of the most lucrative financial benefits of anywhere in the US.
Florida has one of the most stable and highly favorable tax climates in the US, which makes it one of the top places for opening a franchise of a successful business brand such as Amazing Explorers Academy.
Franchise Opportunity Jacksonville – Tax Benefits
If you are thinking about opening a franchise in Jacksonville or one of Florida’s other rapidly growing metropolitan areas, consider this:
- Florida has no corporate income tax on limited partnerships.
- The state doesn’t tax corporate income on subchapter-S corporations
- There are no state personal income taxes, by constitutional provision
- Florida has no corporate franchise tax on capital stock
- There are no state-level property taxes assessed in Florida
- Florida has no property tax on business inventories
Plus, Florida doesn’t tax goods-in-transit for up to 180 days, has no sales or use tax on goods manufactured within the state for export outside of Florida, and there are no sales taxes on purchases of raw materials incorporated in a final product for resale, including non-reusable containers or packaging.
Franchise Opportunity Jacksonville – Sales and Use Tax Exemptions
The state also offers sales and use many sales and use tax exemptions, including:
- Machinery and equipment used by a new or expanding Florida business to make personal property for sale.
- Labor parts, and materials used in the repair of and incorporated into machinery and equipment
- Electricity used in the manufacturing process
- Labor for research and development expenditures.
In other words, Florida is one of the biggest business-friendly states in the country. So if you are considering opening a successful franchise like Amazing Explorers Academy, think Florida first!