Florida Corporate Income Tax
Corporations or Limited Liability Companies classified as corporations for federal tax purposes are subject to a 5.5% Florida Corporate Income Tax.
Most Corporations, Limited Liability Companies and other artificial entities doing business or earning or receiving income in Florida must file a Florida Corporate Income Tax return (Form 1120), even if no tax is due. Some legal entities – including sole proprietorships, individuals, estates and testamentary trusts – are exempt from Florida income tax. Other entities, such as S Corporations, partnerships and some LLCs may also be exempt. To be certain, consult your tax advisor or attorney.
Florida Sales and Use Tax
Florida businesses must collect a 6% sales tax for many products and services and must have a Sales Tax Number. The business is responsible for collecting sales tax at the time of each sale and remitting the tax each month to the Department of Revenue (DOR).
The Department of Revenue can assist you in determining whether you are subject to sales tax. If so, before you open for business, you must register with the state and obtain your sales tax ID number. You can register online using form DR-1 at the Department of Revenue website. For in-person registration, visit your local DOR office. You may apply by mail, but this often takes more than two weeks.
After your registration application is approved, you will receive a Certificate of Registration (Form DR-11), an Annual Resale Certificate (Form DR-13), and your tax return forms. You will collect the current Lee County sales tax (6%) from customers for products and services and then pay those taxes to the Florida’s DOR.
Discretionary Sales Surtax
Florida counties are authorized to levy a discretionary sales surtax on most transactions subject to sales and use tax. Currently Lee County does not impose Discretionary Sales Surtax.