Miami Lakes’ tax structure places it in a competitive position with other metropolitan areas. Businesses in Miami Lakes enjoy:

• No local corporate income taxes 
• No state or local personal income taxes 
• No property tax on business inventories 
• No corporate tax on limited partnerships 
• No property tax on goods in transit for up to 180 days
• No sales and use tax on goods manufactured or produced in the state for export outside the state 
• No sales tax on purchases of raw materials incorporated in a final product for resale 
• No sales/use tax on boiler fuels 
• No sales/use tax on co-generation of electricity 
• No franchise tax on capital stock 
• Sales tax exemption on labor component of r&d expenditures 
• Sales/use tax exemption for the entertainment and manufacturing industries

The Town of Miami Lakes is in excellent financial condition, as recognized by Moody’s and Fitch, with an AA+ rating for the Town’s bond issue. The Town also maintains one of the lowest tax rates in Miami-Dade County, ranking 5th amongst all of the cities in Miami-Dade County in the millage rate they impose on property values, which is the main source of funding for local governments. In 2011, the Town distributed $525,000 of unspent funds from the prior fiscal year which translated into a $75.00 dividend to all homestead-exempt Town residents. The Town is one of few local governments in the County that has ever returned monies to its residents.