Paperwork a beach buyer will want
- Both your Duval County receipt and your Jacksonville Beach business tax receipt
- A copy of your lease with any assignment and renewal terms
- Sales tax returns that match your reported sales
- Payroll records showing who works which shifts
- Any state licenses that a new owner must apply for in their own name
Two Business Tax Receipts, Not One
Companies in Duval County generally hold a local business tax receipt from the Duval County Tax Collector. Jacksonville Beach charges its own municipal business tax on top of that, as do the other beach cities and Baldwin.
When you sell, both need attention. A Duval receipt can move to a new owner for a small fee. Ask the city how it handles its own. Our page on the Jacksonville business tax receipt covers the county side.
What Sells at the Beaches
Restaurants and bars are the most visible companies here, but they are far from the only ones. Property management, home services, pool care, fitness studios, med spas, salons, marine services and professional offices all trade hands.
Many of these companies serve neighbors who live within a few miles, which is a strength. Repeat local customers are easier to transfer than walk in visitors, and buyers know it.
Aesthetics businesses are common along the beaches. Our page on selling med spas explains how buyers look at medical oversight and provider relationships.
Leases Can Make or Break the Deal
Space close to the ocean is scarce and rents reflect it. A buyer will usually need the landlord's consent to take over your lease, and enough years left to pay back the purchase with room to spare.
Read your assignment clause before you list. If renewal options are short, talk with the landlord early. A deal can stall for weeks waiting on a landlord who was never asked.
Who Is Buying
Many beach buyers already live east of the Intracoastal and want to own a business close to home. Some are restaurant operators adding a second or third location. Others are moving to Florida and like that it has no personal income tax.
Most sales here are asset sales financed with cash, an SBA loan and often a seller note. A Florida promissory note carries documentary stamp tax, and the parties agree who pays it.
Sales Tax and the Final Return
Duval County's total sales tax rate is 7.5 percent, and restaurants collect a lot of it. A buyer will compare your sales tax returns to your reported sales, so they should agree.
After closing you file a final sales tax return within 15 days. Buyers usually hold back money until the Department of Revenue confirms nothing is owed. The selling guide explains how that fits into the full timeline.
For a private estimate on your Jacksonville Beach company, send the two step form or call (904) 555-0129.