FLORIDA TAX CLIMATE
The Tax Foundation 2016 State Business Tax Climate Index ranks Florida the fourth best state for overall business taxes. In a breakdown of index rankings, Florida ranks 17 on the corporate tax index, with no individual income tax, Florida ranks 1 in the nation, the sales tax index is 17, the unemployment insurance tax is 3 and the property tax is ranked 20. Click here (http://taxfoundation.org/article/2016-state-business-tax-climate-index) to see the entire Tax Foundation report.
Commercial real estate taxes are assessed and collected by Indian River County. The major difference between residential and commercial real estate taxes is that no exemptions or deductions are allowed for commercial real estate. The tax rates are the same for both types of real estate. For further information concerning property values, sales and property tax information, click here for the Indian River County Tax Appraiser or click here for the Indian River County Tax Collector.
PERSONAL PROPERTY TAX:
Tangible personal property taxes are ad valorem taxes based on the values of the following three categories:
Businesses: furnishings, fixtures, signs, supplies, equipment and other personal property that could be used in a business and is not otherwise exempt.
Mobile Home Attachments (when you do not own the land the mobile home is sitting on): all attachments and additions that did not come from the manufacture with the mobile home, such as a carport, utility shed, Florida room or screened porch.
Rental Furnishings: furnishings and appliances provided in the rental property.
With the exception of mobile home attachments, tangible personal property is normally assessed and taxed on the basis of information supplied on a tax return filled out by the owner of the property. This form is filed with the Property Appraiser between January 1st and April 1st of each year. Failure to file or late filing of a tax return is subject to penalties. If you have any questions regarding a tax return, contact the Property Appraiser at (772) 226-1556.
LOCAL BUSINESS TAX RECEIPT INFORMATION AND APPLICATION
The Local Business Tax Receipt is imposed for the privilege of doing business in the City of Sebastian. Anyone that engages in any type of business within the City limits is required to have a City of Sebastian Local Business Tax Receipt.
All receipts are sold or renewed by the City beginning July 1 of each year, are due and payable on or before September 30 of each year, and expire on September 30 of the succeeding year. Receipts not renewed by September 30 become delinquent and subject to a penalty of 10% for the month of October and an additional 5% for each month of delinquency thereafter. However, the total delinquency penalty may not exceed 25 percent of the tax for the delinquent establishment. The fee for new Local Business Tax Receipts issued from April 1, through September 30, shall be one-half the regular annual license tax.
The City of Sebastian has fixed Business Tax fees as established by the City Council. These fees are attached to a classification that would describe your business. Click for MUNICODE SECTION 30-51
Application packets for Local Business Tax Receipts For Commercial Locations can be obtained at Sebastian City Hall, 1225 Main Street, Building Department, Sebastian, Fl 32958
The State of Florida has a uniform state sales tax of 6%. Each county has a local option sales tax. In Indian River County there is an added 1% sales tax making our total sales tax 7%.
Basic food and medicine items are not taxed.
Florida does not have an income or inheritance tax. However, you should click here to check Florida State government for complete information, especially on inheritance taxes.
Florida Power and Light (FPL) is the electric supplier in the Sebastian Region. FPL reportedly has the lowest electric rate in the State of Florida.
Electricity can be a major cost for any business. In the past few years, FPL’s rates have declined mainly due the increased use of natural gas and solar for generation. Vero Beach and parts of Indian River County are served by Vero Beach Electric, a municipal electric service provider whose rates are nearly one third higher than FPL. Click here to see national electric rate comparisons. Note that Florida electric rates have declined in the past few years.
WATER AND SEWER
Water and sewer services are provided by Indian River County Utility Department. Both utility provides provide competitive user fees. Water and sewer services are already installed at the Sebastian Municipal Airport and are available for new construction at the Airport.
Basic telephone service is provided by AT&T. Cable television and internet connections are provided by AT&T and Comcast. Comcast also offers telephone service. The local and county government television channels are provided by Comcast, AT&T UVerse and web streaming.
High speed internet service is available from both AT&T and Comcast. Comcast now has cable/internet service available on the East and West sides of the Airport.
Natural gas mains have been installed along major routes in Sebastian. These include the CR512 corridor, US Route 1 and Indian River Drive. Expansion to the west side of the Sebastian Airport is planned for 2016. Florida City Gas Company provides natural gas. Click here(https://www.floridacitygas.com/about-us/our-service-area) to find out more about natural gas pricing and services in Sebastian.
Propane gas is readily available in the area from several providers.
Sebastian is located in the West Palm Beach television market (ADI or area of dominant influence).