Florida ranks #4 best state for business tax climate
December 7, 2020
Once again, the Tax Foundation has placed Florida on its list of 10 best states in this year’s State Business Tax Climate Index. Since 2016, Florida has consistently ranked #4 on the Index, which is designed to show how well states structure their tax systems and provides a road map for improvement.
Of note this year, Florida’s corporate income tax rate declined from 5.5 to 4.4458% in September 2019, effective for tax years 2019-2021. The lower rate does not change Florida’s already enviably rank of 4th overall, according to the report, but it does improve the state’s corporate tax component rank from 9th to 6th.
More on the Index’s methodology and breakdown here.