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Financial Incentives

Consistenly ranked as one of the top pro-business states in the country, Florida offers numerous economic advantages to businesses considering relocation or expansion.


Energy-saving discounts

Duke Energy offers a variety of rates for business and industry. We have small, medium and large general service schedules including time-of-use choices. Additionally, a commercial industrial service rider is available for qualifying customers to reduce costs even further.

We also help businesses manage their energy bills by offering low-cost, energy-saving inspections available for new construction and retrofit projects. Click here to learn more about these energy-efficiency services. 

 

State tax advantages

Florida companies benefit from a pro-business tax structure, including:

  • Low 5.5 percent corporate tax, double weighted for sales.
  • 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 property tax on business inventories or on goods-in-transit for up to 180 days.
  • No sales & use tax on goods manufactured/produced in Florida for export out of state.
  • No sales & use tax on co-generation of electricity or certain boiler fuels.
  • Sales & use tax exemptions on electricity used in the manufacturing process.
  • Sales & use tax exemptions on machinery, equipment and labor used predominantly for research and development.

State incentive programs

  • Qualified Target Industry Tax Refund (QTI) available for companies that create high wage jobs in targeted high value-added industries.
  • Capital Investment Tax Credit (CITC) eligible projects in designated high-impact sectors receive an annual credit against the corporate income tax.
  • Quick Response Training Program (QRT) funding for customized training for new or expanding businesses.
  • Incumbent Worker Training Program (IWT)  funding for customized training for existing, for-profit businesses.
  • Special Opportunity Incentives encourages growth across a variety of areas, including rural, urban and enterprise zone incentives.

Source: Enterprise Florida


 

For more information, contact us.