Tax Structure

Use tax is due on the use or consumption of taxable goods or services when Florida sales tax was not paid at the time of purchase.


Other Florida Tax Advantages

  • No corporate income tax on limited partnerships
  • No state personal income tax
  • No state-level property tax assessed
  • No sales and use tax on goods manufactured or produced in Florida for export outside the state
  • No sales tax on purchases of raw materials incorporated in a final product for resale, including non-reusable containers or packaging
  • No corporate income tax on subchapter S-corporations
  • No corporate franchise tax on capital stock
  • No property tax on goods-in-transit for up to 180 days
  • No sales and use tax on co-generation of electricity

Sales and Use Tax Exemptions

  • Manufacturing machinery and equipment
  • Electricity used in the manufacturing process
  • Semiconductor, defense and space technology-based industry transactions involving manufacturing equipment
  • Labor component of research and development expenditures
  • Aircraft parts, modification, maintenance and repair, sale or lease of qualified aircraft
  • Commercial space activity — launch vehicles, payloads and fuel, machinery and equipment for production
  • Labor, parts and materials used in repair of and incorporated into machinery and equipment
  • Certain boiler fuels (including natural gas) used in the manufacturing process
  • Machinery and equipment used predominantly in research and development
  • Production companies engaged in Florida in the production of motion pictures, made for television motion pictures, television series, commercial advertisements, music videos or sound recordings

Real Property Tax & Tangible Personal Property Tax

Taxes are levied in Bay County by the taxing authorities empowered to do so by the State Legislature. The Bay County Property Appraiser establishes the value of real estate and tangible personal property. The Board of County Commissioners set the millage (rate of taxation) for the county; the School Board sets the millage for the schools; and the city councils and commissions set the millage for each municipality. The governing bodies of other independent special taxing districts and authorities set the millage rates for those areas.

Contact Us

5230 West Highway 98
Panama City, FL 32401

(850) 215-9965

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