United States of America: what taxes are charged in Miami?

After Spain, the United States is one of the countries that receives the largest number of Argentine immigrants. AND Florida is the most voted state. According to official data, 69,000 Argentines have already established their residence in the “sunny state” in Miami.

Settling in another country is a real challenge. Having a work contract or investing in property or a business are some of the ways to move without the risk of living illegally.

In any case, it is convenient to know what tax requirements. By the way, Florida is a state where people pay lower taxes than other parts of the United States. Here, all the keys.

United States of America: what taxes are charged in Miami?

From the AARP (formerly the American Association of Retired Persons) website, they highlight the tax advantages that Florida offers over other states. It stands out because unlike Argentina personal income They don’t pay taxes. Therefore, capital gains produced by investments and dividends are also exempt.

Property tax. The average rate in Florida is 0.98% of assessed value. Photo: Clarín.

Another incentive for those who choose to settle in Florida is that they do not pay taxes there. estate or inheritance taxes. For example, if the homeowner dies and was married, the widow or widower will continue to receive the main household exemption as long as they live there.

The property tax It varies by county, but the Tax Foundation says the average rate is 0.98% of assessed value. Another contribution in which the regions intervene is the tax on sales and consumption: At the state level, it is 6%, but when state and local rates are combined, it is 7.02%.

Real estate tax is collected by the regions based on the market value as of January 1 of each year. However, residents can get a tax benefit up to $50,000 through the state principal residence exemption. The Save Our Homes program limits home value increases to a maximum of 3%.

He The Florida Department of Revenue website provides information on real estate tax and allows you to obtain the value of the given property.

Miami. Most foods and medicines are exempt from taxes. Photo: Shutterstock.

Although it has a reputation as a state that charges very little sales and excise taxes, the average of 7.02% puts it somewhere in the middle, between the 5% and 9% charged by other states.

The state charges 6% on many. goods and servicesexcluding most food, medicine and medical supplies. But counties can add an additional 1.5% tax. In some cases, additional local tax is limited to $5,000 (includes vehicles, boats, aircraft and RVs). However, others do not charge any fee.

Contrary to what many Argentinians believe, clothes pay a price. sales tax. But it is still usually cheaper than in Argentina and other EU states. Fuels are also taxed and these vary by county.

The alcoholic beverages, subject to sales tax, pay additional fees. Beer costs $0.48 per gallon (three liters); wine between $2.25 and $3.50 per gallon, depending on alcohol content. Other alcoholic beverages pay up to $9.53 per gallon.

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