Yes, Florida has two types of Cypress trees: the Baldcypress, (Taxodium distichum var. distichum) and the Pondcypress, (Taxodium distichum var. nutan).
Whether it is illegal to cut them down is dependent on the jurisdiction where the trees are located, and more often then not, are protected because of the nature of the environment (wetland) in which they are typically found. It is best to consult the City, Town, or County of the tree's location before doing any cutting.