Fla. Admin. Code Ann. R. 12C-2.007 - Penalties and Interest
(1) Delinquent
Penalty. A delinquent penalty of 10 percent of the tax due, per month or
portion of a month, will accrue on the governmental leasehold estates
intangible tax and the nonrecurring intangible tax that is not paid on or
before the due date. The delinquent penalty will not exceed 50 percent of the
tax due.
(2) Late Filing Penalty. A
late filing penalty of 10 percent of the tax due, per month or portion of a
month, will accrue on governmental leasehold estates intangible tax returns not
filed on or before the due date. The late filing penalty will not exceed 50
percent of the tax due.
(3) The
combined penalties provided in subsections (1) and (2) will not exceed 10
percent of the tax due per month, or portion of a month, and is limited to 50
percent of the tax due.
(4)
Undervaluation Penalty. Governmental leasehold estate property which has been
reported at an amount less than market value is subject to a specific
undervaluation penalty of 10 percent of the tax due attributed to the
undervaluation.
(5)
(a) Interest accrues at the rate of interest
established pursuant to Section
213.235, F.S., and Rule
12-3.0015, F.A.C. (prorated
daily).
(b) Interest is due based
on the amount of tax paid after June 30 of the tax year regardless of any
extension of time granted by the Department for paying the tax or filing a
return. Interest accrues on the unpaid tax beginning July 1 of the tax year and
is calculated through and including the date of
payment.
Notes
Rulemaking Authority 199.202, 213.06(1) FS. Law Implemented 196.199(2)(b), 199.282, 213.235 FS.
New 4-17-72, Amended 12-20-73, 9-27-76, 4-2-78, Formerly 12C-2.07, Amended 11-21-91, 5-18-93, 4-2-00, 10-9-01, 5-4-03, 1-28-08.
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(1) Delinquent Penalty. A delinquent penalty of 10 percent of the tax due, per month or portion of a month, will accrue on the governmental leasehold estates intangible tax and the nonrecurring intangible tax that is not paid on or before the due date. The delinquent penalty will not exceed 50 percent of the tax due.
(2) Late Filing Penalty. A late filing penalty of 10 percent of the tax due, per month or portion of a month, will accrue on governmental leasehold estates intangible tax returns not filed on or before the due date. The late filing penalty will not exceed 50 percent of the tax due.
(3) The combined penalties provided in subsections (1) and (2) will not exceed 10 percent of the tax due per month, or portion of a month, and is limited to 50 percent of the tax due.
(4) Undervaluation Penalty. Governmental leasehold estate property which has been reported at an amount less than market value is subject to a specific undervaluation penalty of 10 percent of the tax due attributed to the undervaluation.
(5)
(a) Interest accrues at the rate of interest established pursuant to Section 213.235, F.S., and Rule 12-3.0015, F.A.C. (prorated daily).
(b) Interest is due based on the amount of tax paid after June 30 of the tax year regardless of any extension of time granted by the Department for paying the tax or filing a return. Interest accrues on the unpaid tax beginning July 1 of the tax year and is calculated through and including the date of payment.
Notes
Rulemaking Authority 199.202, 213.06(1) FS. Law Implemented 196.199(2)(b), 199.282, 213.235 FS.
New 4-17-72, Amended 12-20-73, 9-27-76, 4-2-78, Formerly 12C-2.07, Amended 11-21-91, 5-18-93, 4-2-00, 10-9-01, 5-4-03, 1-28-08.