Quick Florida Tax Stats
| Tax Type | Rate / Info |
|---|---|
| Income Tax | 0% (no state income tax) |
| Sales Tax | 6% statewide base; typically 6.5–7.5% combined with local surtaxes |
| Jock Tax | No state income tax; athletes still owe tax in other states where they earn income |
| Cost of Living (Range) | $70,000 – $155,000 annual for single-person moderate-to-high lifestyle (metro areas) |
| Average Home Price | ~$410,000 (3-bed/2-bath home in Tampa / Orlando / Jacksonville area) |
Income Tax in Florida
Florida has no state income tax, making it one of the most tax-efficient states for high earners and athletes alike.
For professional athletes this means:
- Gross income keeps more net value: Salary, bonuses, endorsements, and appearance fees are not reduced by state income tax.
- Residency advantage: Domicile in Florida can preserve a larger share of income compared with athletes residing in high-tax states like Washington vs Georgia vs Minnesota.
- Net worth acceleration: Avoiding state income tax on investment income, capital gains, and passive earnings supports faster net worth growth over time.
Example
An NBA player earning $25 million in salary, sponsorships and endorsements while domiciled in Florida may keep an additional ~$3.25–$4+ million, after state tax savings relative to a similar athlete residing in states like Georgia or Ohio.
For athletes owning investment property or earning income beyond the court, Florida’s tax regime also helps reduce annual liability at multiple income layers, making cash flow planning and wealth preservation more effective.
Sales Tax
Florida imposes a base 6% state sales tax with additional local surtaxes that typically bring combined rates to 6.5–7.5% depending on county.
High-income residents can manage spending impact by:
- Planning large purchases in lower combined tax counties.
- Leveraging tax-free days for specific categories like back-to-school or hurricane preparedness.
Example
Buying a $120,000 luxury vehicle in Orlando might result in approximately $7,800–$9,000 in combined sales taxes, depending on local add-ons.
Jock Tax
Similar to other no-income-tax states, Florida does not levy state income tax on athletes’ earnings within the state.
However away game earnings in states with income tax (e.g., California, New York, Pennsylvania) will still be subject to pay jock tax.
This means:
- Florida residency preserves the tax-free status for home income.
- Out-of-state earnings are apportioned and taxed by visiting states on a pro-rata basis.
Example
An NFL wide receiver based in Tampa will avoid Florida income tax on home game checks but owe a portion of their income to tax states like New York or New Jersey on away games.
Cost of Living and Housing
The cost of living in Florida varies by metro area:
- Miami / Fort Lauderdale: Higher costs, especially for luxury housing and services; a single pro athlete budget might be $120k–$155k+ yearly.
- Orlando / Tampa / Jacksonville: More moderate costs, ranging $70k–$110k for a similar standard lifestyle.
Housing
- Typical 3-bed/2-bath homes in major metro markets range ~$380,000–$450,000.
- Coastal or luxury neighborhoods (Miami Beach, Naples, Boca Raton) command significantly higher prices.
- Florida has no state income tax deduction complexity, meaning property tax write-offs and investment deductions are easier to manage at the federal level due to zero state tax cross-influence.
Property taxes in Florida fund local services but do not operate as an additional layer on top of a state income tax.
Residency Rules
Athletes establishing Florida residency benefit from:
- Zero state income tax on earned and passive income.
- Favorable structure for capital gains and long-term investment appreciation.
- Simplified wealth preservation planning across playing and post-career years.
Typical residency documentation includes:
- Florida driver’s license or state ID.
- Voter registration in Florida.
- Proof of physical presence / address.
- Financial ties stabilized in Florida (banking, primary residence, family domicile).
Example
A college athlete with ties to Florida might maintain domicile there when entering the pros to optimize net contract payout and reduce lifetime tax drag compared with residing in a state with income tax.
Why Florida is Athlete-Friendly
- No state income tax = higher retention of gross income
- Net income boost vs. states with income tax even before federal obligations
- Sales tax is moderate relative to cost of living
- Cost of living can be lower than elite coastal markets (NYC, LA, SF)
- Strategic for tax planning on capital gains, endorsements, and post-career income
This supports both short-term cash flow and long-term net worth accumulation.
Want Every APSM Report In One Place?
The APSM Master Report Bundle includes all current APSM reports:
- Why $100M Pro Contract Only Nets $35-$55M
- 7 Ways Athletes Go Broke Within 5-Years
- 7 Ways Athletes Build Generational Wealth
- (Will Include future additions of reports as APSM grows)
You’ll Get
- Deep financial literacy designed through a sports lens
- Net worth projections, contract forecasts & tax modeling
- Wealth frameworks & risk analysis
- Lifetime value mapping for both athletes and professionals
The most valuable way to learn the game of money through APSM.
Related Terms
- Tennessee State Athlete Taxes
- Texas State Athlete Taxes
- Wyoming State Athlete Taxes
- Nevada State Athlete Taxes
- Washington State Athlete Taxes
Next Reads
- Why NHL Players Flock to Florida Teams: Taxes & Take-Home Pay
- Travis Hunter’s $3.275 Million Jacksonville Mansion
- Private Jets For Athletes: Flex, Asset, or Liability?
- How the NFL Franchise Tag Works Financially
- How NHL Players Get Paid Compared to Other Leagues
Credits
Sources: Florida Department of Revenue & Taxation, State Tax Rates 2025, Zillow/Redfin Housing Data, APSM Proprietary Analysis
Disclaimer: This article contains general financial information for educational purposes and does not constitute professional advice.
Apostle Sports Media 