When you open a business in Punta Gorda, you open the door to a wide variety of available incentives and tax advantages. Considering the range of incentives that may be available to your Punta Gorda business as well as the personal advantages to you and your employees, choosing Punta Gorda becomes an even easier decision.
The Punta Gorda City Council is committed to creating an environment where business enjoys success and prosperity. They have not increased the property tax rate since 2012, and have established a number of economic and tax incentives to qualified businesses, including
• City property tax rebates
• Reduced water utility fees
• Impact fee reductions
In addition, businesses in Punta Gorda may also qualify for several county programs, including:
• Economic Development Incentive programs awarded for job creation, capital investment or to offset infrastructure improvement costs
• County property tax exemptions
• Taxable non-recourse economic development bonds
In Punta Gorda, you don’t pay any state or local income tax, which means anyone relocating from a state with personal income taxes sees an immediate jump in compensation. In addition, the State of Florida has:
• No corporate income tax on limited partnerships
• No corporate income tax on subchapter S-corporations
• No corporate franchise tax on capital stock
• No state-level property tax assessment
• No property tax on business inventories
• No property tax on goods-in-transit for up to 180 days
• No sales and use tax on goods manufactured or produced in Florida for export outside the state
• No sales tax on purchases of raw materials incorporated in a final product for resale, including non-reusable containers or packaging
Finally, the State of Florida offers a variety of tax exemptions for a broad mix of business items, equipment, and activities rarely found anywhere in the country. The State also offers a variety of specialized grants and tax credits to qualified business.