Sales tax deduction in Florida
Varies
Is Sales Tax Deductible in Florida?
Short answer: Yes, and it's usually your best option: Florida has no income tax, so itemizers deduct sales tax instead (6% state rate, about 6.98% with local taxes). County discretionary surtax applies only to the first $5,000 of a single item such as a car or boat; total sales tax on a boat is capped at $18,000.
Use the IRS Sales Tax Deduction Calculator or your receipts, add sales tax paid on a car, boat, or home-building materials, and stay within the $40,400 SALT cap (Schedule A line 5a).
Records to keep: Keep your state return, W-2s and 1099s (1099-R, SSA-1099), and any state credit worksheets. Check your state revenue department's current-year instructions before you file.
Sales tax deduction in Florida
Varies
Individuals / Personal Taxes
Yes, and it's usually your best option: Florida has no income tax, so itemizers deduct sales tax instead (6% state rate, about 6.98% with local taxes). County discretionary surtax applies only to the first $5,000 of a single item such as a car or boat; total sales tax on a boat is capped at $18,000.
Business justification
Yes, and it's usually your best option: Florida has no income tax, so itemizers deduct sales tax instead (6% state rate, about 6.98% with local taxes). County discretionary surtax applies only to the first $5,000 of a single item such as a car or boat; total sales tax on a boat is capped at $18,000. Use the IRS Sales Tax Deduction Calculator or your receipts, add sales tax paid on a car, boat, or home-building materials, and stay within the $40,400 SALT cap (Schedule A line 5a).
Category
- Personal Tax Deductions