Basic Info
Deductions
Insurance Premiums
Your Florida Paycheck Results
Calculating your paycheck…
Take-Home Pay:
$0.00
Per Pay Period:
$0.00
Tax Breakdown
Federal Income Tax:
$0.00
State Income Tax (FL):
$0.00
Social Security:
$0.00
Medicare:
$0.00
Additional Medicare:
$0.00
Total Tax:
$0.00
Deduction Breakdown
401(k) Contribution:
$0.00
Traditional IRA:
$0.00
HSA Contribution:
$0.00
FSA Contribution:
$0.00
Health Insurance:
$0.00
Dental Insurance:
$0.00
Vision Insurance:
$0.00
Other Deductions:
$0.00
Total Deductions:
$0.00
Gross Annual Income:
$0.00
Effective Tax Rate:
0.00%
Florida State Income Tax Information
The American state does not impose a personal income tax. This means residents are not subject to state-level taxation on wages, salaries, or retirement income, including Social Security benefits and distributions from 401(k) or IRA accounts.
Federal Income Tax
Federal income taxes apply to all U.S. residents based on income, filing status, and deductions. The IRS uses a progressive tax rate structure from 10% to 37%. For 2025, the standard deduction is $15,000 for single filers and $30,000 for married couples filing jointly.
FICA Taxes
| Component | Rate | Income Limit |
|---|---|---|
| Social Security | 6.2% | Up to $168,600 |
| Medicare | 1.45% | No Limit |
| Additional Medicare | 0.9% | Above $200,000 (Single) / $250,000 (Married) |
Pre-Tax Deductions
These deductions reduce your taxable income and can significantly lower your tax burden:
- 401(k), 403(b), and similar retirement contributions
- Health and dental insurance premiums
- Health Savings Account (HSA) and Flexible Spending Account (FSA) contributions
- Pre-tax commuter and transit benefits
State-Specific Deductions and Credits
| Credit or Deduction | Description |
|---|---|
| Homestead Exemption | Homeowners may qualify for a homestead exemption, reducing the taxable value of their primary residence by up to $50,000, thereby lowering property taxes. |
| Property Tax Rebates | In 2025, the state proposed a $1,000 property tax rebate for eligible homeowners to offset school property taxes. |
| Sales Tax Exemptions | The state offers sales tax exemptions on certain items, such as groceries and prescription medications, reducing the overall tax burden on residents. |
Interesting Facts About the State’s Taxes
- The American state is one of the few that does not impose a personal income tax, making it attractive for retirees and high-income earners.
- It has a state sales tax rate of 6%, with local counties adding their own surtaxes, leading to varying total sales tax rates across the state.
- Property taxes are a primary source of revenue for local governments, with rates varying by county.
- There is no estate or inheritance tax, allowing residents to pass on wealth without additional state-level taxation.
FAQs – State Paycheck Tax
- 1. Does the state tax Social Security benefits?
- No, Social Security benefits are not taxed at the state level.
- 2. Are there any local income taxes in the state?
- No, there are no local income taxes; residents are subject only to federal income taxes.
- 3. Can I deduct contributions to a Health Savings Account (HSA)?
- Yes, HSA contributions are deductible on federal tax returns, reducing your taxable income.
- 4. Is there a tax credit for renters?
- Currently, the state does not offer a specific income tax credit for renters.
- 5. How does the state handle capital gains taxation?
- Capital gains are not taxed at the state level; they are subject only to federal taxation.