If the lack of a state income tax has you dreaming of moving to the Sunshine State, check out our guide to Florida mortgages, which lays out the most important information about mortgages in Florida to help you with the home buying process. Florida is a popular destination known for its sunny beaches and theme parks. In addition to the above taxes, Florida also collects a special communication services tax on all phone, internet and television services.

Summary of Taxes for Single / Married and Separate Filing

For states with progressive tax systems, note that the dollar amounts in the income brackets apply to single filers; in many states, the income brackets double for those married filing jointly. And, as is the case for federal returns, the amount you’ll pay to your state is also a function of your filing status, whether you have dependents, and whether you qualify for tax deductions and credits. The idea of not having to pay state income taxes might sound appealing, but keep in mind that property taxes, sales taxes or other taxes and fees could be higher in those states. Florida’s official nickname is “The Sunshine State,” but it may as well 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, and most counties charge sales taxes of their own. There are, however, some taxes that are higher in Florida than elsewhere in the U.S.

Related Calculators

Although Florida’s income tax rate is 0%, we have provided you with various scenarios of the tax you will pay on your income as a resident of Florida. Taxes are something that everyone needs to pay, and we are going to specifically cover the Florida state income tax rate when you take into consideration the other taxes you will be liable to pay on your income if you reside in the Sunshine State. Florida has no state income tax, which makes it a popular state for retirees and tax-averse workers. If you’re moving to Florida from a state that levies an income tax, you’ll get a pleasant surprise when you see your first paycheck. That means the only taxes you’ll see withheld from your paycheck are federal taxes.

State Corporate Income Tax Rates and Brackets, 2024

A financial advisor can help you understand how taxes fit into your overall financial goals. SmartAsset’s free tool matches you with up to three vetted financial advisors who serve your area, and you can have a free introductory call with your advisor matches to decide which one you feel is right for you. If you’re ready to find an advisor Airbnb Accounting and Bookkeeping who can help you achieve your financial goals, get started now. View how much tax you may pay in other states based on the filing status and state entered above.

Sales and Use Tax and Discretionary Sales Surtax Rates

The range we have provided in the Florida income tax brackets is from $1,200 per month or $14,400 per year to $12,000 per month, or $144,000 per year. In other words, if you move to Florida from a state like California that has an income tax and you make the same salary, your Florida paychecks will be bigger than your California paychecks were. The lack of a state income tax might not be a determining factor for you while you’re in your working years, but it might play a role when you’re deciding where to live in retirement and you’re on a fixed income. As of January 1, 2025, New Hampshire repealed its interest and dividends tax, joining the group of seven other states with no individual income tax. The Earned Income Tax Credit (EITC) is a significant tax credit in the florida income tax United States, designed primarily to benefit working individuals and families with low to moderate income.

• Come tax season, taxpayers in Florida can finish up their federal taxes, then kick back and enjoy the sunshine.
• Florida has one of the higher gas taxes in the nation, ranking 12th in the U.S.
• Florida already has the most regressive tax code in the country, Santis said, citing the latest edition of the Institute of Taxation and Economic Policy’s “Who Pays?
• Your employer will match that by contributing the same amount.
• Property taxes make up about 73% of school district revenue, according the report.

Overview of Florida Taxes

• As of January 1, 2025, New Hampshire repealed its interest and dividends tax, joining the group of seven other states with no individual income tax.
• Like every other state, your earnings in Florida are subject to federal taxes.
• For example, admission to one of Florida’s famous amusement parks is taxable, as are detective services and many rental services.
• In other words, the more money you earn, the more tax-friendly Florida is.

In March 2024, legislation was enacted reducing Utah’s individual and corporate income tax rates from 4.65 to 4.55 percent, retroactively effective as of January 1, 2024. Additionally, some counties also collect their own sales taxes of up to 2%, which means that actual rates paid in Florida may be as high as 8%. Here are the combined state and local sales tax rates for each of Florida’s counties. As part of its comprehensive tax reform, effective January 1, 2025, Iowa unearned revenue consolidated its three tax brackets into a single bracket with a rate of 3.8 percent, joining the group of states with flat individual income taxes.