Florida tax relief is a popular topic for discussion among Florida residents. What is a tax relief? Simply put, it is the reduction of taxes that a taxpayer must pay each year in order to receive his or her tax-free status. Florida in fact ranks very well in the tax relief category because of the number of tourists that visit the state each year as well as the large number of multinational companies that call Florida home.

Learn More About Reducing Your Tax

Florida corporate income tax represents the amount of money paid from a company to the state and other entities for the provision of services rendered to the state and other people and companies. This is what makes Florida a popular destination for large corporations looking for a place to invest their money. In order for a company to be able to take advantage of tax relief, it must be able to prove that the payment of said taxes will really be worth the money spent on them. A company may choose to take on debt to fund a new construction project or to settle a lien on an old building that no longer needs any upkeep.

get IRS tax relief

A tax debt in Florida, like any other tax debt, can be resolved in a number of different ways. The most common method of settling Florida tax debt is through an installment payment plan. In essence, this method is simply where you make a single, lump-sum payment each year in exchange for receiving a discount on the total amount owed. Typically, the discount is quite substantial, resulting in the Florida tax debt being resolved in about ten years. Of course, your circumstances will always be unique and you will be best advised to speak with a professional tax debt resolution expert who can help you determine which plan is right for your situation.

IRS tax relief services