THE SUNSHINE STATE'S CAPITAL GAINS TAX: A COMPREHENSIVE GUIDE

When selling a property in Florida, you will not be subject to a state-level capital gains tax, boosting your profits. You ought to evaluate the federal government’s principal residence exemption if you've occupied the home for at least two of the past five years—permitting up to $500,000 in exempted gains for spouses or $250,000 if unmarried.