The firm of Benjamin H. Moore CPA, PA can assist a relocating business owner in the following areas:


 

  • Payroll Taxes
  • Business Intangible Tax
  • Florida Sales Tax
  • Florida Corporate Income Tax


    • Payroll Taxes

    Payroll taxes consist of three types of taxes as follows:
    1. Social security taxes are deducted from an employee's paycheck at a rate of 7.65%. The employer is required to also pay an additional 7.65%.

    2. Federal unemployment taxes are paid by the employer at a rate of 0.8%.

    3. State unemployment taxes are paid by the employer at rates determined by the state.

    4. Unemployment taxes are paid up to annual maximum levels of wages which are determined each year by the taxing authorities.

    Business Intangible Tax

    The State of Florida charges an intangible tax on the value of intangible property held by the business as of January 1st of each year:
    1. Intangible property includes stocks, bonds, accounts or notes receivable not secured by real property and mutual funds.

    2. Cash, retirement accounts and bonds issued by the State of Florida and the U.S. Government are exempt.

    3. The tax rate is .001 of the market value of your portfolio.

    Florida Sales Tax

    The State of Florida requires that sales tax be collected as follows:
    1. Sales are taxed to the ultimate consumer.

    2. The base rate is 6% but local authorities may add to this rate.

    3. Tax is remitted on the 20th of each month for sales made the previous month.

    4. The tax is on goods but numerous exceptions apply to both goods and services.

    Florida Corporate Income Tax

    The State of Florida taxes the profits of corporations as follows:
    1. The base rate is 5.5% on income above $5,000.

    2. The tax return is due April 1st of each year.

    3. S Corporations are not subject to the tax.


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    E-mail, call or fax Ben for help with your business taxes.

    e-mail:BHM@BHMCPAPA.com
    Phone: 407-644-3119
    Fax: 407-628-3616

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    Disclaimer:

    The above information should not be relied upon without consulting
    your own personal tax advisor regarding your individual circumstances.


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