Brevard County Starting a Business
Melbourne and Brevard County encompass an area that is growing rapidly and welcomes new business.
The Melbourne (Brevard County) metropolitan area, which includes Titusville, Cocoa, Meritt Island and Palm Bay, has a population of more than 500,000 It is defiitely one of the most diverse metro areas in all of Florida. Although the areas are sprawled out, they all have a small town feel, a great infrastructure and a “user-friendly attitude.”
Whether you’re considering relocating a company or starting a business from scratch, Melbourne wants your business.
To consider:
Employees:
Over 185,00- in the Brevard County area.
The market and potential:
Total Population 519,000
Population Forecast (2010) 588,000
Median Age 41
Income
Median Income $35,271
Average Household Income $47,571
A good business assistantance site is athttp://www.spacecoastedc.org/BusinessAssistance/RelocationExpansionIncentives.aspx
Brevard is the Third Hottest Market in the U.S.
Brevard's August 2005 sales averaged 29% higher than a year earlier, following June's 9% record price increases in a single month. Hundreds of refurbishers continued to upgrade older homes, raising prices significantly, but our back-to-school period historically slumps compared to spring and summer. Nationally, sales of new U.S. homes jumped 6.5% to a record high in July, defying economists' year-long predictions of a decline.
Some of the more significant advantages to living and establishing businesses in Florida, with respect to taxes are:
No state income tax.
No corporate income tax on sub-chapter S corporations.
First $5000 of taxable income apportioned to Florida is exempt.
No state property tax on inventory or equipment.
No business inventory tax.
No corporate franchise tax on capital stock.
No corporate tax on limited partnerships, individuals, Estates and private trusts.
No collected or assessed state property tax.
No sales tax on "boiler fuels" used at a fixed Florida location in an industrial manufacturing, processing or compounding process.
No sales and use tax on goods manufactured or produced in Florida for resale or export outside Florida.
Corporation accounts receivable (one third) exempt from intangible property tax.
Exemption of employee stock options from employer.
No property tax on goods-in-transit for up to 180 days.
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