Overview of Florida Taxes
Florida is known for having low taxes. Delving into the numbers, the state mostly lives up to the reputation. Despite having no income tax, though, there are some taxes that Florida residents still have to pay.
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Your Income Taxes Breakdown
| Tax Type | Marginal Tax Rate | Effective Tax Rate | 2023 Taxes* |
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* These are the taxes owed for the 2023 - 2024 filing season.
Your 2023 Federal Income Tax Comparison
- Your marginal federal income tax rate
- Your effective federal income tax rate
- Your federal income taxes
Total Estimated 2023 Tax BurdenIncome Tax $ Sales Tax $ Fuel Tax $ Property Tax$ Total Estimated Tax Burden $ Percent of income to taxes = % | $ |
- About This Answer
Our income tax calculator calculates your federal, state and local taxes based on several key inputs: your household income, location, filing status and number of personal exemptions.
How Income Taxes Are Calculated
- First, we calculate your adjusted gross income (AGI) by taking your total household income and reducing it by certain items such as contributions to your 401(k).
- Next, from AGI we subtract exemptions and deductions (either itemized or standard) to get your taxable income. Exemptions can be claimed for each taxpayer as well as dependents such as one’s spouse or children.
- Based on your filing status, your taxable income is then applied to the the tax brackets to calculate your federal income taxes owed for the year.
- Your location will determine whether you owe local and / or state taxes.
- Last Updated: January 1, 2024
When Do We Update? - We regularly check for any updates to the latest tax rates and regulations.
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Taxes in Florida
Florida State Tax Quick Facts
- Income tax: None
- Sales tax: 6% - 7.50%
- Property tax: 0.86% average effective rate
- Gas tax: 36.525 cents per gallon of regular gasoline and 20.20 cents per gallon of diesel
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.
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 who can help you achieve your financial goals, get started now.
Florida Income Taxes
Come tax season, taxpayers in Florida can finish up their federal taxes, then kick back and enjoy the sunshine. No state income tax means no state income tax return. It means there’s no need to research special state deductions and credits. For high income earners, it means there is a huge incentive to take their talents to South Beach.
Florida Sales Tax
The statewide sales tax rate in Florida is 6%. Additionally, some counties also collect their own sales taxes of up to 1.5%, which means that actual rates paid in Florida may be as high as 7.5%. The combined sales tax rate in Florida is 7.058%. There is no sales tax charged at the city level in Florida. Here are the combined state and local sales tax rates for each of Florida’s counties.
Most consumer products are subject to these tax rates, including all electronics, clothing, cleaning supplies and furniture. However, most groceries and medicine are exempt. Additionally, some services may require payment of the sales tax. For example, admission to one of Florida’s famous amusement parks is taxable, as are detective services and many rental services.
Like most states, Florida also enforces a use tax. That means that if you buy a product outside of the state and no tax is collected on that purchase, you are required to file a Sales and Use Tax Return with the Florida Department of Revenue.
Florida Property Tax
If you’re thinking about buying a beach house somewhere along Florida’s 8,436 miles of ocean shoreline, you’ll want to take property taxes into account. Florida’s average effective property tax rate is 0.86%, which is well below the national average. Floridians pay $2,143 on a median home property value of $248,700.
Because property tax is only collected at the county level in Florida, it ranges significantly depending on where you live. In Miami-Dade County, for example, effective rates are 0.89% of home value. That means if you own a home worth $332,800, you could expect to pay around $2,964 in property taxes annually.
If you are thinking about buying a home in Florida and are planning on using a mortgage, take a look at our Florida mortgage guide for information on rates and getting a mortgage in Florida.
Florida Communication Services Tax
In addition to the above taxes, Florida also collects a special communication services tax on all phone, internet and television services. The total tax rate is 7.44%, with state tax accounting for 4.92% of that, and gross receipts taking up the rest of the 2.52%.
Florida Gas Tax
Florida has the lowest gas tax in the nation. Floridians pay a 26.325 cents per gallon tax on regular gasoline and 20.200 cents per gallon on diesel fuel.
Florida Estate Tax
If you’re looking to pass on that beach house in Miami to your heirs, you can rest easy. As of December 31, 2004, there’s no estate tax in Florida.
Florida Alcohol Tax
Florida’s taxes on alcohol is the 25th-highest in the U.S. The Sunshine State’s tax on alcohol is $6.20 per gallon.
Florida Cigarette Tax
According to the Tax Foundation, Florida has a cigarette tax of $1.65 per pack.
- The average low temperature in Miami in the month of July is 78° Fahrenheit.
- Florida produces about 70% of the nation’s oranges.
- In 2023, there were 20 shark attacks in Florida, most of any state in the country.
