Florida’s tax landscape presents a compelling case for family offices considering relocation or investment in the state. Known for its favourable tax regime, Florida offers significant advantages that can impact wealth preservation, growth, and succession planning. This article explores how Florida’s tax environment affects family offices, highlighting key benefits and strategic considerations.
Florida’s tax advantages
No state income tax: Florida is one of the few states in the U.S. that does not impose a personal income tax. This absence of state income tax can result in considerable savings for family offices, especially when compared to states with high tax rates. The lack of a state income tax extends to interest and dividend income, further enhancing investment returns.
