There isn't anything particularly unique about conducting a 1031 exchange in Florida compared to other states in terms of the federal tax code. The rules and processes for a 1031 exchange, as outlined by the IRS, apply uniformly across all states. This means that whether you're exchanging a property in Florida or in another state, the fundamental requirements remain the same: the properties involved must be held for productive use in a trade or business or for investment, and they must be of like-kind.
Florida does not have state or local capital gains taxes. The Combined Rate accounts for the Federal capital gains rate, the 3.8 percent Surtax on capital gains, and the marginal effect of Pease Limitations on itemized deductions, which increases the tax rate by 1.18 percent.
Florida does not have a state income tax.