Florida’s tax rates are mostly consistent across the board, but there are a couple of exceptions that are useful for one to keep in mind while filing taxes. Florida has a state-level tax rate of 6%, but when it comes to commercial rentals, the tax rate is .5% less. This makes the state-level tax rate on commercial rentals 5.5%. Florida sales tax compliance also imposes a 4% tax on amusement machines and a 6.95% tax on electricity.
Florida Sales Tax
There are four different types of filing frequencies for tax returns in Florida: monthly, quarterly, semi-annually, and annually. Make sure to mark your calendar for the 19th of each month because that is the last day you can file your tax returns in Florida. If the 19th falls on a weekend or on a business holiday, then the deadline is changed to the first applicable business day before the 19th. This is different than how most states deal with their return due dates. Usually, states will push the due date back to after the weekend or holiday. Keep that in mind, so you do not end up missing the due date because you thought you had a little bit of extra time. Please note that all payments must be made before 5pm EST of the due date to be considered on time.