Walton County Economic Development Council

All Walton County businesses benefit from low operating costs associated with taxes that are among the lowest in the state.

Florida has no personal income tax. Corporate income is taxed at 5.5%, but there is no tax on inventory. For more information, check with the Florida Department of Revenue.

Real property and capital equipment are subject to ad volorem taxes. Walton County's ad valorem tax rate is typically one of the lowest in Florida at about 1.6% of assessed property value. Retail sales of most items except food are subject to a 7% sales tax. That is 1% higher than the mandated state sales tax, but it includes free solid waste disposal for all residents of the county.

Florida Renewable Energy Tax Incentives Program: The Florida Energy Act established provisions for 1) sales tax exemptions and 2) corporate income tax credits aimed at promoting infrastructure development that supports hydrogen and biofuels technologies. In addition, the Act created a production tax credit which provides a corporate income tax credit based on the amount of electricity produced from renewable energy sources at a new or expanded Florida facility.

©2008 Walton County Economic Development Council
908 U.S. Highway 90 West • Suite 209 • DeFuniak Springs, Florida 32433 • 850-892-0555