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Orlando top ranked for small businesses, tax climate

Posted by Charlene Small on Jul 16, 2014 11:30:00 AM

Downtown Orlando

Orlando earned accolades this week for both its friendliness toward small businesses and favorable tax climate, according to two reports from the Kauffman Foundation and KPMG International.

In partnership with the Ewing Marion Kauffman Foundation, Thumbtack.com rated Orlando an "A" overall as one of the friendliest cities in the country for small businesses and entrepreneurs. While Florida earned a "C+" overall, Orlando is the top-rated city in the state.

The Small Business Friendliness Survey was compiled from more than 12,000 small businesses and entrepreneurs across the country, and its Orlando findings are available here.

"After a two-month survey of thousands of small business owners nationwide, Orlando has emerged as one of the top cities in the country for small business," said Jon Lieber, Chief Economist at Thumbtack.com.

Other key findings of the Kauffman Foundation study ranked Orlando as 6th in the country for its regulatory friendliness and gave the City Beautiful an "A+" for the friendliness of its tax code, licensing laws and zoning and environmental regulations.

Orlando also offers one of the most favorable tax structures for businesses among major international cities, according to a new study released by KPMG International.

KPMG's 2014 Competitive Alternatives: Focus on Tax study is a global comparison of the total tax burden that companies in 107 cities throughout 10 countries may face, including corporate income taxes, capital taxes, sales taxes, property taxes, miscellaneous local business taxes and statutory labor costs.

Of the 51 large international cities highlighted in the study, Orlando ranked 18th overall and 9th in the United States.

Orlando had an overall total tax index of 88.2, representing tax costs 11.8 percent below the U.S. baseline of 100.

Other findings in KPMG's study include:

  • Corporate Services - Orlando had a total tax index of 90.2, representing tax costs 9.8 percent below the U.S. baseline of 100 - 11th among the 51 large international cities (4th in the U.S).
  • Digital Services - Orlando had a total tax index of 90.1, representing tax costs 9.9 percent below the U.S. baseline of 100 - 12th among the 51 large international cities (5th in the U.S).
  • Manufacturing - Orlando had a total tax index of 86.8, representing tax costs 13.2 percent below the U.S. baseline of 100 - 20th among the 51 large international cities (11th in the U.S)
  • Research & Development - Orlando had a total tax index of 90.9, representing tax costs 9.1% below the U.S. baseline of 100.0 - 18th among the 51 large international cities (11th in the U.S.).

Read KPMG International's full study here.

Topics: Rankings, Startups & Entrepreneurship, Economic Development

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