Natural beauty, rich culture, and a luxurious lifestyle make our community an extraordinary place to call home. Since our founding in 1925 by J. J. Williams Jr.—himself a transplant from Memphis who arrived during the Great Florida Land Boom—Williams Parker has been helping our clients take full advantage of Florida’s favorable tax structure and asset protection laws granted through domicile in Florida. Florida’s asset protection laws are among the strongest in the country. Residents of Florida do not pay state income, estate, or gift tax. Heirs are free from state inheritance tax and that freedom is protected by Florida’s constitution.
What you may not have considered are the tremendous benefits these tax laws offer to businesses. Like individuals, most businesses are not subject to state income tax. Moving assets, companies, and employees to a climate of zero personal income tax introduces exceptional potential for increasing wealth. This, combined with Florida’s asset protection laws, makes Sarasota an even more desirable place to live and work. As with any move, astute preparation is key. Complex financial affairs require precise legal guidance. Thoughtful tax planning is essential to make sure the move is smooth and results in the desired economic benefits. For nearly a century, Williams Parker has helped those relocating to Florida navigate many issues, including estate and tax planning, real estate, and business relocation and succession. Our deep knowledge of Florida’s highly specific state and local tax laws—supported by the firm’s collective know-how across federal tax matters, real estate projects, wealth preservation challenges, and international transactions—can make your relocation not only much simpler, but infinitely smarter.