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

When selling a residence in Florida, you won’t face a state-level capital gains tax, maximizing your returns. You should think about the Internal Revenue Service’s primary residence exclusion if you've occupied the home for at least two of the past five years—granting up to $500,000 exclusion for married couples or $250,000 for single filers.