THE SUNSHINE STATE'S CAPITAL GAINS TAX: WHAT YOU NEED TO KNOW

When selling a property in Florida, you won’t be subject to a state-level capital gains tax, maximizing your profits. You ought to evaluate the Internal Revenue Service’s principal residence exemption if you've resided in the property for two of the last five years—granting up to $500,000 exclusion for married couples or $250,000 if unmarried