Business seaports. The area also provides easy access to two duty-free zones and the two busiest container ports in the state, including the Foreign Trade Zones at Palm Beach International Airport and the Port of Miami. The freight lines of Florida East Coast and CSX Railways run through the area and are complemented by Amtrak and Tri-Rail passenger services.
TAX ADVANTAGES
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Made To Move Celebrating 30 Years of Mark’s Moving & Storage
Florida is one of the few states in the country with no personal state income tax, a factor that has contributed to business relocations and population growth. The income rate for a Chapter C corporation (regular corporation) is 3 percent. The first $10,000 of taxable income apportioned to Florida is exempt. There is no corporate income tax for Chapter S corporations or partnerships and no corporate franchise tax on capital stock. There also is no property tax on business inventories or vehicles. In fact, the state has one of the nation’s lowest corporate income tax rates. Retail sales tax is 6.0 percent in Palm Beach County, and there is no longer an intangible tax (the tax on the value of stocks, bonds, accounts receivable and taxable securities). Incentives for businesses locating in the county’s enterprise zones include credits toward state corporate income tax and sales tax refunds for new equipment and building materials.
FINANCIAL SERVICES
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508-889-0640
mark@marksmoving.com Moving.indd 1 36 Mark's | Boca chamBer annual 2012
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Boca Raton’s strong financial services sector reflects its large concentration of affluent retirees, well-paid corporate executives, successful small businesses and a tourist economy that’s on the rise. Additionally, successful businessmen and businesswomen with money for investments are an industry unto themselves. According to the Florida Bankers Association Report, there are more than 32 banks in Palm Beach County, with more than 92 branch offices. The perfect combination of top-level corporate executives, wealthy retirees and a booming tourism industry gives Boca Raton a continued infusion of capital investment and keeps local deposits hovering around the $9 billion mark. If you need more information regarding the Boca Raton business climate, call the Chamber at 561/395-4433 or visit bocaratonchamber.com. ♦
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