Starting a business in Tampa Part 2

Services for Real Estate Pros with Florida Real Estate Network

The market and potential:

Total Population Tampa area   1,073,000 (2003 per census bureau)
Population Forecast (2010) 1,228,000
Population Growth (2000 to 2003) 7.5%
Median Age 41   
Median Household Income  $40,663
Business Assistance:

Hillsborough County Economic Development council.
The Economic Development Department administers programs that sustain and encourage the economic growth of the local economy, including programs that stimulate the creation of quality jobs for the skilled and semi-skilled work force. It supports agriculture, small business, minority, and financial sectors. It works in concert with local chambers of commerce, disadvantaged minority / women and small business enterprise programs, and spearheads Workforce Investment Act Programs.

Gene Gray, Director
County Center, 13th Floor
601 E. Kennedy Blvd.
Tampa, FL  33602
Tele 813 272-7232
fax: 813 276-2638
Tampa Chamber of Commerce list of links and information regarding business incentives.

Advantageous Tax structure both state and local

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
While these are in themselves incentives, the following are additional incentives offered by the State and local government working together to provide you with an environment conducive to your success.

Ad Valorem Tax Exemption (real and personal property) is offered by the local government and is based on the financial impact projected on the County (number of employees, capital expenditure, etc.).

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