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Although there’s no Florida income tax for individuals, the state does charge a 5.5% corporate income tax rate. Without an income tax, Florida is often a popular destination for retirees or ...
Florida – no individual income tax [10] but has a 5.5% corporate income tax. [11] The state once had a tax on "intangible personal property" held on the first day of the year (stocks, bonds, mutual funds, money market funds, etc.), but it was abolished at the start of 2007. [12] Nevada – no individual or corporate income tax.
Some providers also allow you to file a state income tax return. For the 2025 tax season, your adjusted gross income must be $84,000 or less to qualify for the Free File program. That AGI applies ...
Florida is another state that has access to the free Direct File system via the IRS, as well as a very low tax burden of 6.33%. The Sunshine State also has no state income tax at the individual level.
Florida Department of Revenue is a state agency of Florida concerned with taxes. It is headquartered in Tallahassee. [1] References
Tax brackets changed for 2024 tax returns. Each year, the IRS adjusts the federal income tax brackets to account for inflation, which can significantly impact your tax return.