Fla. Admin. Code Ann. R. 12C-2.005 - Reporting Requirements - Due Date - Payment of Tax - Discounts Allowed
(1) Governmental Leasehold -
(a)
1.
Every person, regardless of domicile, who leases property from a governmental
entity in this state, is required to file a return with the Department. All
intangible personal property subject to tax is required to be assessed at its
value as of January 1 of each year. The tax is to be reported on a Governmental
Leasehold Intangible Personal Property Tax Return (Form DR-601G, incorporated
by reference in Rule 12C-2.0115, F.A.C.). The return
and the tax are due on or before June 30 of each year.
2. A return, accompanied with tax due, for
the current tax year, that is postmarked or delivered to the Department on or
before June 30 of the tax year will be considered timely filed. A return that
bears a postmark, or is delivered to the Department, after June 30 of the tax
year is delinquent. When June 30 falls on a Saturday, Sunday, or legal holiday,
returns postmarked or delivered to the Department on the next succeeding
workday will be filed timely. For purposes of this rule, a legal holiday means
a holiday that is observed by federal or state agencies as a legal holiday as
this term is defined in Chapter 683, F.S., and s. 7503 of the Internal Revenue
Code of 1986, as amended. A "legal holiday" pursuant to s. 7503 of the Internal
Revenue Code of 1986, as amended, means a legal holiday in the District of
Columbia or a statewide legal holiday at a location outside the District of
Columbia but within an internal revenue district.
3. The following discounts may be claimed for
early payment when the return and payment are postmarked or delivered to the
Department on or before the last day of the month of the following periods:
a. 4% during January and February;
b. 3% during March;
c. 2% during April;
d. 1% during May;
e. No discount during
June.
4. The postmark
date will determine the date of payment for payments mailed to the department.
If no postmark is available, the date indicated by the taxpayer on the return
signature line or the date of delivery to the Department will be the date of
payment.
(b) When the tax
due, before discount, is less than $60, no return is required to be filed and
no tax is due. Taxpayers who receive a Governmental Leasehold Intangible
Personal Property Tax Return (Form DR-601-G) from the Department for which no
tax is due may file the return, without payment, to inform the Department that
no tax is due. Filing this information return will eliminate additional
inquiries from the Department regarding the filing of the return. Taxpayers who
are under audit, examination, or investigation by the Department will be
required to file a completed return, even if the amount of tax due with the
return is less than sixty dollars ($60).
(2) Nonrecurring Tax -
(a) The nonrecurring 2 mill tax on notes,
bonds and other obligations for the payment of money which are secured by
mortgage, deed of trust or other lien on Florida real property is due and
payable at the time the instrument is presented for recordation.
(b) If there is no written instrument, or if
the written instrument is not presented for recordation, the nonrecurring tax
of 2 mills is due and payable within 30 days following the creation of the
obligation.
(c) If a mortgage, deed
of trust, or other instrument evidencing a lien subject to the nonrecurring tax
secures a revolving line of credit, a line of credit, or future advances, the
tax is due, as provided in paragraphs (a) and (b) on the initial debt or
obligation, excluding future advances. Thereafter, each time a future advance
is made under a future advance mortgage additional nonrecurring tax is
due.
(3) Extension of
Time for Filing Governmental Leasehold Tax Return -
(a)
1. The
Department will grant an extension of time of 3 months for filing a return or
reporting and paying the tax when it is determined there is reasonable cause
for granting the extension. Reasonable cause for the purpose of administering
these provisions shall be deemed to be one of the following:
a. Having been granted an extension of time
to file federal income taxes. A copy of the extension from the Internal Revenue
Service must accompany the request for extension of time; or
b. A tax payment of 100% of last year's
intangible tax or 90% of the current year's tax accompanies the request for
extension; or
c. The records
necessary to complete the return are not available due to fire, illness or
death of the person having the knowledge to complete the return; or
d. Reasonable cause is established under the
provisions of Rule 12-13.007,
F.A.C.
2. All requests
for extensions of time, for filing returns or reporting and paying the tax,
must be filed with the Department on a Governmental Leasehold Intangible
Personal Property Tax Application for Extension of Time to File Return (Form
DR-602G, incorporated by reference in Rule
12C-2.0115, F.A.C.) and must be
received by the Department on or before June 30 of the tax year. The Department
will notify taxpayers only if the request is denied.
3. The extension of time covers the period
July 1 through September 30. No penalty will be assessed if the return is filed
and the tax due is paid on or before September 30 of the tax year. All taxes
paid after June 30 of the tax year are subject to interest as provided in Rule
12C-2.007, F.A.C. Interest will
be assessed on tax paid after June 30, including those taxes for which an
extension of time to file and pay has been granted.
(b) Examples:
1. A taxpayer requested and was granted an
extension of time to file a tax return and paid the tax due with the return.
The extension was granted through September 30 of the tax year. On September 30
of the tax year, intangible tax in the amount of $100 is paid. No penalties are
due because of the approved extension of time to file. However, interest in the
amount of $3.00 is due. (See Rule
12C-2.007, F.A.C.)
|
Tax Due With Return |
$100 |
|
|
Penalties |
0 |
|
|
Interest |
3 |
|
|
Total Due With Return |
$103 |
2. A
taxpayer is granted an extension of time to file a tax return and pay the tax
due with the return. The extension was granted through September 30 of the tax
year. On October 1 of the tax year a return is filed and the intangible tax is
paid. On October 1, the extension of time to file is void. The taxpayer is
liable for all penalties and interest from June 30 of the tax year until the
date paid. (See Rule 12C-2.007, F.A.C.)
|
Tax Due With Return |
$100 |
|
|
Penalties: Delinquency (40%) |
||
|
Late Filing (40%) |
||
|
[Maximum delinquency and late filing Penalty (40%)] |
40 |
|
|
Interest |
3 |
|
|
Total Due With Return |
$143 |
Notes
Rulemaking Authority 199.202, 213.06(1) FS. Law Implemented 196.199(2)(b), 199.135 FS.
New 4-17-72, Amended 12-20-73, 11-17-74, Formerly 12C-2.05, Amended 11-21-91, 10-9-01, 5-4-03, 1-28-08.
State regulations are updated quarterly; we currently have two versions available. Below is a comparison between our most recent version and the prior quarterly release. More comparison features will be added as we have more versions to compare.
(1) Governmental Leasehold -
(a)
1. Every person, regardless of domicile, who leases property from a governmental entity in this state, is required to file a return with the Department. All intangible personal property subject to tax is required to be assessed at its value as of January 1 of each year. The tax is to be reported on a Governmental Leasehold Intangible Personal Property Tax Return (Form DR-601G, incorporated by reference in Rule 12C-2.0115, F.A.C.). The return and the tax are due on or before June 30 of each year.
2. A return, accompanied with tax due, for the current tax year, that is postmarked or delivered to the Department on or before June 30 of the tax year will be considered timely filed. A return that bears a postmark, or is delivered to the Department, after June 30 of the tax year is delinquent. When June 30 falls on a Saturday, Sunday, or legal holiday, returns postmarked or delivered to the Department on the next succeeding workday will be filed timely. For purposes of this rule, a legal holiday means a holiday that is observed by federal or state agencies as a legal holiday as this term is defined in Chapter 683, F.S., and s. 7503 of the Internal Revenue Code of 1986, as amended. A "legal holiday" pursuant to s. 7503 of the Internal Revenue Code of 1986, as amended, means a legal holiday in the District of Columbia or a statewide legal holiday at a location outside the District of Columbia but within an internal revenue district.
3. The following discounts may be claimed for early payment when the return and payment are postmarked or delivered to the Department on or before the last day of the month of the following periods:
a. 4% during January and February;
b. 3% during March;
c. 2% during April;
d. 1% during May;
e. No discount during June.
4. The postmark date will determine the date of payment for payments mailed to the department. If no postmark is available, the date indicated by the taxpayer on the return signature line or the date of delivery to the Department will be the date of payment.
(b) When the tax due, before discount, is less than $60, no return is required to be filed and no tax is due. Taxpayers who receive a Governmental Leasehold Intangible Personal Property Tax Return (Form DR-601-G) from the Department for which no tax is due may file the return, without payment, to inform the Department that no tax is due. Filing this information return will eliminate additional inquiries from the Department regarding the filing of the return. Taxpayers who are under audit, examination, or investigation by the Department will be required to file a completed return, even if the amount of tax due with the return is less than sixty dollars ($60).
(2) Nonrecurring Tax -
(a) The nonrecurring 2 mill tax on notes, bonds and other obligations for the payment of money which are secured by mortgage, deed of trust or other lien on Florida real property is due and payable at the time the instrument is presented for recordation.
(b) If there is no written instrument, or if the written instrument is not presented for recordation, the nonrecurring tax of 2 mills is due and payable within 30 days following the creation of the obligation.
(c) If a mortgage, deed of trust, or other instrument evidencing a lien subject to the nonrecurring tax secures a revolving line of credit, a line of credit, or future advances, the tax is due, as provided in paragraphs (a) and (b) on the initial debt or obligation, excluding future advances. Thereafter, each time a future advance is made under a future advance mortgage additional nonrecurring tax is due.
(3) Extension of Time for Filing Governmental Leasehold Tax Return -
(a)
1. The Department will grant an extension of time of 3 months for filing a return or reporting and paying the tax when it is determined there is reasonable cause for granting the extension. Reasonable cause for the purpose of administering these provisions shall be deemed to be one of the following:
a. Having been granted an extension of time to file federal income taxes. A copy of the extension from the Internal Revenue Service must accompany the request for extension of time; or
b. A tax payment of 100% of last year's intangible tax or 90% of the current year's tax accompanies the request for extension; or
c. The records necessary to complete the return are not available due to fire, illness or death of the person having the knowledge to complete the return; or
d. Reasonable cause is established under the provisions of Rule 12-13.007, F.A.C.
2. All requests for extensions of time, for filing returns or reporting and paying the tax, must be filed with the Department on a Governmental Leasehold Intangible Personal Property Tax Application for Extension of Time to File Return (Form DR-602G, incorporated by reference in Rule 12C-2.0115, F.A.C.) and must be received by the Department on or before June 30 of the tax year. The Department will notify taxpayers only if the request is denied.
3. The extension of time covers the period July 1 through September 30. No penalty will be assessed if the return is filed and the tax due is paid on or before September 30 of the tax year. All taxes paid after June 30 of the tax year are subject to interest as provided in Rule 12C-2.007, F.A.C. Interest will be assessed on tax paid after June 30, including those taxes for which an extension of time to file and pay has been granted.
(b) Examples:
1. A taxpayer requested and was granted an extension of time to file a tax return and paid the tax due with the return. The extension was granted through September 30 of the tax year. On September 30 of the tax year, intangible tax in the amount of $100 is paid. No penalties are due because of the approved extension of time to file. However, interest in the amount of $3.00 is due. (See Rule 12C-2.007, F.A.C.)
| Tax Due With Return | $100 | |
| Penalties | 0 | |
| Interest | 3 | |
| Total Due With Return | $103 |
2. A taxpayer is granted an extension of time to file a tax return and pay the tax due with the return. The extension was granted through September 30 of the tax year. On October 1 of the tax year a return is filed and the intangible tax is paid. On October 1, the extension of time to file is void. The taxpayer is liable for all penalties and interest from June 30 of the tax year until the date paid. (See Rule 12C-2.007, F.A.C.)
| Tax Due With Return | $100 | |
| Penalties: Delinquency (40%) | ||
| Late Filing (40%) | ||
| [Maximum delinquency and late filing Penalty (40%)] | 40 | |
| Interest | 3 | |
| Total Due With Return | $143 |
Notes
Rulemaking Authority 199.202, 213.06(1) FS. Law Implemented 196.199(2)(b), 199.135 FS.
New 4-17-72, Amended 12-20-73, 11-17-74, Formerly 12C-2.05, Amended 11-21-91, 10-9-01, 5-4-03, 1-28-08.