TIP #10B07-03
DATE ISSUED: June 16, 2010
Phosphate Rock Severance Tax Rate Changes
Phosphate Rock Producers
Phosphate rock producers are subject to a new base tax rate and surcharge as provided by law. The surcharge shall be collected until the last day of the calendar quarter in which the total revenue generated by the surcharge equals $60 million. The Department will notify taxpayers once the surcharge equals $60 million.
Use the new rates when completing the Declaration of Estimated Tax and Installment Payments of Solid Mineral Severance Tax (Form DR-142ES).
| July 1, 2010 - June 30, 2011 Base Tax Rate | $1.71 per ton |
|---|---|
| Plus: Surcharge Rate | $1.38 per ton |
| July 1, 2010 - June 30, 2011 Total Tax Rate | $3.09 per ton |
| July 1, 2011 - June 30, 2012 Base Tax Rate | $1.61 per ton |
| Plus: Surcharge Rate | $1.38 per ton |
| July 1, 2011 - June 30, 2012 Total Tax Rate | $2.99 per ton |
The new law also adjusts the distribution of proceeds paid into the State Treasury.
Reference: Section 211.3103, Florida Statutes; Chapter 2010-166, Laws of Florida (Section 3, CS/HB 5801, 2nd Eng.)
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 Internet site at www.myflorida.com/dor or call Taxpayer Services, 8:00 a.m. to 7:00 p.m., ET, Monday through Friday, excluding holidays, at 800-352-3671.
For a detailed written response to your questions, write the Florida Department of Revenue, Taxpayer Services, Mail Stop 3-2000, 5050 West Tennessee Street, Tallahassee, FL 32399-0112.