9. Determine Your Florida Tax Responsibilities

Forming an LLC does not register you for any Florida tax. Registration is a separate step with the Florida Department of Revenue, and it is free online. Register before your first taxable sale.

What applies to most Lake Wales businesses, as of October 2026:

• Sales tax is 7%. That is 6% state plus Polk County's 1% surtax. You collect it for the State. It is never your revenue.
• There is no sales tax on commercial rent. Florida repealed it on October 1, 2025. If a lease or an old guide still adds sales tax to rent, it is out of date.
• There is no state personal income tax. Florida corporate income tax applies to C corporations.
• Reemployment tax applies once you have employees. New employers pay 2.7% on the first $7,000 of each employee's wages, which is at most $189 per employee per year.

If you hire, three more things arrive on day one. Florida's minimum wage is $15.00 an hour as of September 30, 2026, and $11.98 for tipped employees. Workers' compensation coverage is required at four or more employees, and at one employee in construction. And payroll is where an accountant or a payroll service starts earning its fee.

Set up bookkeeping immediately. Your records should tell you what came in, what went out, what you owe, what you actually earned, what produces margin, and how much cash remains.

Memory is terrible accounting software.