State attorney Jack Campbell also confirmed his office received word of the post Saturday and is looking into the matter.
Taggart, a Bradenton native, is the first black head coach at FSU.
"There's an active criminal investigation", Campbell said.
The State Attorney's Office, FDLE, and local authorities are actively investigating a racist social media post made over the weekend involving Coach Taggart. "We're going to follow where it goes". "Even if it means sacrificing your rep".
The man responsible for a racist social media post showing Willie Taggart getting lynched has been fired from his job at Hilton Grand Vacations, the company said in a statement Monday.
The Tallahassee Democrat reported that the poster responded to a critical comment by writing: "I'm dead f*****g serious. This is how far I'm willing to go to get rid of this clown!" the caption to the post read.
The Facebook post shows an image of Taggart's head copied on a hanging body in a black-and-white lynching photo.
FSU officials issued a statement Sunday rebuking the post.
ABC in Tallahassee is reporting that the man has been fired.
The post in question began making its rounds on social media after the Seminoles lost to the Florida Gators 41-14 on Saturday, ending FSU's 36-year bowl streak.
However, the Seminoles stumbled through a disappointing 5-7 season, failing to qualify for a bowl game for the first time since 1981 and suffering their first losing season since 1976. "Coach Taggart has our full support and as true Seminoles know, he is a respected member of the FSU family", said President Thrasher.
By Sunday afternoon, Facebook and Twitter accounts under Shand's name were deleted, but screenshots of posts are still being circulated widely online.