Taxes

Florida has one of the lowest tax burdens in the country, which makes it consistently rank as one of the best states to start or move a business.

Going toward Downtown Sarasota from the Ringling Bridge
Sarasota Taxes At-A-Glance

  • 5.5% Corporate Tax Rate
  • 0% Personal State Income Tax
  • 7% Sales and Use Tax
  • NO Estate tax

How Can We Help?

Contact Destin Wells, VP of Business Development, to see how we can help you thrive in Sarasota County.

Our Pro-Business Tax Code

5.5% Corporate Tax Rate

Florida is one of only several states with a 0% state income tax on businesses other than corporations. And even for these business entities, the tax rates are low. The maximum corporate tax rate on federal taxable income is 5.5%.

0% Personal Income Tax

Florida residents enjoy a 0% tax burden when it comes to state income tax. This means that even Social Security retirement benefits, pension income and income from an IRA or a 401(k) are all untaxed at the state level. While residents still pay federal income tax, the relief from these state-level taxes offers more opportunities for investment.

No Estate Tax and Inheritance Tax

Florida doesn’t collect any estate or inheritance tax.

13.947 Avg. Millage Rate

Sarasota County specifically has one of the lower millage rates in the state at 13.947. This includes the 1 mill for public schools—which consistently drives the success of our public school district. Comparatively, 58 of the 67 counties in Florida have a higher millage, bringing the state average to 18.097.

7% Sales and Use Tax

Florida charges a 6% sales and use tax, with a 1% local tax set by local governments. Sarasota County has a 1% sales and use tax, which makes the total 7%.

Need more tax information?

Contact our team to learn more about how Sarasota County’s tax code helps business owners start, grow or relocate their business to the Suncoast.

Sarasota Taxes At-A-Glance

  • 5.5% Corporate Tax Rate
  • 0% Personal State Income Tax
  • 7% Sales and Use Tax
  • NO Estate tax

How Can We Help?

Contact Destin Wells, VP of Business Development, to see how we can help you thrive in Sarasota County.

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