TIP # 02C02-01
DATE ISSUED: July 24, 2002
SOME INTANGIBLE TAX
FILING REQUIREMENTS HAVE BEEN ELIMINATED
Corporate and Partnership Filers
Corporations, partnerships, and affiliated groups are no longer required to file an intangible tax return when no tax is due. No taxpayer with total tax due of less than $60 (before the discount authorized for early payment) is required to pay tax or file a return. This law change took effect on May 1, 2002.
Reference: Section 199.052(2), Florida Statutes
[Section 5 of CS/SB 426, Chapter 2002-218, Laws of Florida]
Stockholder Valuation Notice
Beginning May 1, 2002, corporations are no longer required to provide stock value information to their shareholders or to the Department of Revenue. Information reports must still be filed with the Department when the corporation has elected to file intangible tax as agent for its shareholders, even if no tax is due.
Reference: Section 199.062(1) and (2), Florida Statutes
[Section 60 of CS/SB 426, Chapter 2002-218, Laws of Florida.]
FOR MORE INFORMATION
This document is intended to alert you to the requirements contained in Florida laws and administrative rules. It does not by its own effect create rights or require compliance.
For forms and other information, visit our site at www.myflorida.com/dor. Or call Taxpayer Services, Monday through Friday, 8:00 a.m., to 7:00 p.m., ET, at 800-352-3671 (for Florida residents only), or 850-488-6800
Hearing- or speech-impaired persons should call our TDD at 1-800-367-8331 or 850-922-1115.
For a detailed written response to your questions, write the Florida Department of Revenue, Taxpayer Services, 1379 Blountstown Highway, Tallahassee, FL 32304-2716.
To receive a fax copy of a form, call 850-922-3676 from your fax machine telephone.