Florida's Intangible Personal
Property Tax (IPPT)
Beginning January 1, 2007,
individuals, married couples,
personal representatives of estates,
and businesses are no longer
required to file an annual
intangible personal property tax
return reporting their stocks,
bonds, mutual funds, money market
funds, shares of business trusts,
and unsecured notes. The Legislature
has repealed the annual tax on these
properties.
The last annual intangible tax
return that these taxpayers were
required to file was the 2006 return
that was due by June 30, 2006. Any
intangible taxes owed to the State
for that return or prior years are
still due.
Not all intangible taxes have
been repealed. The intangible tax on
leases of government-owned real
property and the one-time intangible
tax on notes secured by a mortgage
on Florida real property are still
in effect.
For more information, see the
Department of Revenue's
Tax Information Publication (TIP)
#07C02-01. |
