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Florida's State Economy And Favorable Tax Rates | TaxConnections
Florida is the southeasternmost U.S. State, with the Atlantic Ocean on one side and the Gulf of Mexico on the other. It has hundreds of miles of beaches. The city of Miami is known for its Latin-American cultural influences and notable arts scene, as well as its nightlife, especially in upscale South Beach. Orlando is famed for its theme parks including Walt Disney World. Florida is the flattest state in the United States. Lake Okeechobee is the largest freshwater lake in the state. Central Florida is known as the lightning capital of the United States, as it experiences more lightning strikes than anywhere else in the country. Florida leads the United States in tornadoes per area (when including waterspouts), but they typically do not reach the intensity of those in the Midwest and Great Plains. Hail often accompanies the most severe thunderstorms. Hurricanes pose a severe threat each year during June 1 to November 30, hurricane season, particularly from August to October. Business Climate The state’s economy relies mainly on tourism, agriculture, and transportation, which developed in the late 19th century. Florida is also renowned for amusement parks, orange crops, winter vegetables, the Kennedy Space Center, and as a popular destination for retirees.