Miami Lakes’ tax structure places it in a competitive position with other metropolitan areas. Businesses in Miami
Lakes enjoy:
• No local corporate income taxes
• No state or local personal income taxes
• No property tax on business inventories
• No corporate tax on limited partnerships
• No property tax on goods in transit for up to 180 days
• No sales and use tax on goods manufactured or produced in the state for export outside the state
• No sales tax on purchases of raw materials incorporated in a final product for resale
• No sales/use tax on boiler fuels
• No sales/use tax on co-generation of electricity
• No franchise tax on capital stock
• Sales tax exemption on labor component of R&D expenditures
• Sales/use tax exemption for the entertainment and manufacturing industries
The Town of Miami Lakes is in excellent financial condition, as recognized by Moody’s and Fitch, with an AA rating
for the Town’s bond issue. The Town also maintains one of the lowest tax rates in Miami-Dade County. In 2011, the
Town distributed $525,000 of unspent funds from the prior fiscal year, which translated into a $75.00 dividend, to all
homestead-exempt Town residents. The Town is one of few local governments in the County that has ever returned
monies to its residents.
Tax Advantages
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