Florida Regulations 12C-2.005: Reporting Requirements – Due Date – Payment of Tax – Discounts Allowed
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(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 Fl. Admin. Code R. 12C-2.0115). 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 Florida Statutes Chapter 683, 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 Fl. Admin. Code R. 12-13.007
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 Fl. Admin. Code R. 12C-2.0115) 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 Fl. Admin. Code R. 12C-2.007 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 Fl. Admin. Code R. 12C-2.007)
Terms Used In Florida Regulations 12C-2.005
- Deed: The legal instrument used to transfer title in real property from one person to another.
- Lien: A claim against real or personal property in satisfaction of a debt.
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
- Personal property: All property that is not real property.
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
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 Florida Statutes Chapter 683, 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 Fl. Admin. Code R. 12-13.007
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 Fl. Admin. Code R. 12C-2.0115) 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 Fl. Admin. Code R. 12C-2.007 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 Fl. Admin. Code R. 12C-2.007)
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 Fl. Admin. Code R. 12C-2.007)
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
Rulemaking Authority 199.202, 213.06(1) FS. Law Implemented 196.199(2)(b), 199.135 FS. History-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.