What types of taxes are associated with owning commercial real estate?

Owning commercial real estate in Florida comes with a variety of taxes that need to be paid. These taxes generally fall into two categories: direct taxes and indirect taxes. Direct taxes are those that are paid directly to the state and local tax authorities and are determined by the property’s value. A few examples of direct taxes that property owners in Florida may have to pay include real estate taxes, tangible personal property tax, and business inventory tax. Indirect taxes are those which must be paid when certain services or goods are purchased for the commercial property. Examples of indirect taxes include sales tax, lodging tax, and use tax. In addition, depending on the commercial property, there may also be additional taxes such as hotel taxes, tourist taxes, franchise taxes, and excise taxes that must be paid. There may also be additional taxes associated with certain activities like gambling, storage, or rental activities. Finally, owners of commercial real estate may also have to pay federal income tax on the income they receive from the property. This includes income from rents, sales, and any other sources of income associated with the property. The taxes associated with owning commercial real estate in Florida can be complicated and must be assessed on a case-by-case basis. It is important to consult with a knowledgeable tax professional to determine the exact taxes that need to be paid.

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What types of taxes are associated with owning commercial real estate?

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