When deciding on a State to place your business, Florida's stable and highly favorable tax climate provides advantages that make a Florida and Longwood specific site profitable for every type of business. The Tax Foundation, the nation's leading independent tax policy research organization has ranked Florida as having the fifth best Tax Climate for the upcoming year (2015). The maps provided share Florida's ranking with regard to other states.
No corporate income tax on limited partnerships
No corporate income tax on subchapter S-corporations
No state personal income tax guaranteed by constitutional provision
No corporate franchise tax on capital stock
No state level property tax assessed
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 of state
No sales tax on purchases of raw materials incorporated in a final product for resale
No sales/use tax on co-generation of electricity
The City of Longwood's sales tax rate is 7%. All property is taxable at 100% of its just valuation. The City of Longwood's millage for property is 18.5885.