Florida Income Tax Calculator

Overview of Florida Taxes

Florida, the Sunshine State, stands out for its lack of state income tax, which sets it apart from many other U.S states. Instead, it leans on sales taxes, which are comparably higher than the national average. Nevertheless, it compensates for this with property tax rates that remain modest and under the national average, creating a unique fiscal balance.

To use the Florida income tax calculator, simply input your desired salary and filing status to begin.

USA income tax calculator for Florida

2023/24 Florida Income Tax Calculator

To use the Florida income tax calculator, simply input your desired salary and filing status to begin.

[Official] USA Federal Tax Calculator
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Your Income Taxes Breakdown


Your Income Taxes Breakdown


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Full Breakdown


Full Breakdown


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💡What Is the Average Salary in Florida?

As of 2023, the average salary in Florida is approximately $50,085 per year, or about $24.08 per hour. Entry-level positions typically start around $33,150 per year, while most experienced workers can earn up to $114,785 annually. These figures represent the diverse range of industries and job roles within the state, with certain areas and professions offering higher salaries than others.

💡What Is the Minimum Wage in Florida?

As of 2024, Florida’s minimum wage is set at $13.00 per hour, reflecting the state’s economic conditions and cost of living. This rate is subject to annual adjustments to align with economic changes and living costs across the state.

Florida is often touted as a tax-friendly state, particularly due to its absence of a state income tax. However, the full picture is more nuanced, taking into account property taxes, sales tax, and other levies such as tolls. In this analysis, we dive deep into Florida’s tax landscape to provide a comprehensive view.

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State Income Tax

Absence of State Income Tax

  • Unique Selling Proposition: Florida is one of the seven U.S. states without a state income tax.
  • Impact on Business: This absence lures entrepreneurs, high-net-worth individuals, and corporations. However, some critics argue that this lack of income tax shifts the burden onto other types of taxation.

Property Taxes

Rate Variability

  • Average Rates: The average property tax rate is around 0.98%, which is slightly below the national average of 1.08%.
  • County Differences: Rates can vary from 0.5% to 1.5% depending on the county. Coastal areas like Miami-Dade or Palm Beach often have higher rates.

Homestead Exemption

  • Eligibility: Homeowners who use their Florida home as their permanent residence and who owned the property on January 1 of the tax year can claim a $25,000 exemption applied to the first $50,000 of the property’s assessed value.
  • Coverage: This exemption applies to all taxes, including school district taxes.
  • Impact: For homeowners who qualify, the exemption can make a notable difference in their overall tax liability, especially when combined with the state’s relatively moderate average property tax rate.

Sales Tax

State and Local Variations

  • Base Rate: Florida has a base state sales tax of 6%.
  • Local Taxes: Counties can impose an additional 1–2.5%, making the overall sales tax rate range from 7–8.5%.

Exceptions

  • Groceries and Medicine: Most groceries and prescription medicines are exempt from sales tax.

Tolls

Prevalence and Cost

  • Ubiquity: Toll roads are common, especially around major cities like Orlando and Miami.
  • Price Fluctuations: Rates differ based on the time of day, ranging from $0.50 to $10.00.

Previous Florida Income Taxes

In Florida, you don’t have to worry about state income tax because there isn’t any! That’s right, Florida is one of the few states in the U.S. where residents don’t pay state income taxes.

So, there are no tax brackets to change over time. However, it’s a different story when it comes to federal income taxes. These are the taxes collected by the U.S. government, and everyone has to pay them, no matter what state you live in.

The brackets for federal taxes—meaning the different levels at which you’re taxed—have changed a lot over the years. Different Presidents and Congresses have adjusted them, sometimes to keep up with inflation, which is when the cost of things goes up.

2012 and 2002 Florida Income Tax Calculator

Historical Federal Income Tax Calculator 2012 & 2002
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The TaxAssist+ calculator computes your federal and state income taxes for the 2023/24 tax year, using several key factors such as your household income, geographical location, and filing status.

HOW INCOME TAXES ARE CALCULATED

  • Initially, the calculator identifies your adjusted gross income (AGI) by reducing your total household income by specific, allowable adjustments.
  • We then subtract potential personal exemptions to arrive at your taxable income.
  • Your taxable income is subjected to relevant tax brackets based on your filing status to determine the total income tax you owe for the year.

Update Schedule: TaxAssist+ continuously monitors for amendments to tax rates and regulations, ensuring that our calculators remains current for the current tax year.

Customer Support: For any comments or inquiries, we encourage you to reach out directly to our support team via our contact page.

Step 1

Our US research professionals meticulously compile and scrutinize the latest tax laws and regulations to ensure foundational accuracy.
James Toth
Financial Services Research Expert

Step 2

A dedicated team of independent fact-checkers rigorously reviews and authenticates the compiled data for integrity and compliance.
Fact-checked
By independent fact-checkers

Step 3

Our tech team then integrates these verified updates into the TaxAssist+ calculators, ensuring they reflect the most current tax rates.
Liam Hollis
Product & IT Lead at TNGB Research

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