Florida Regulations 12-17.005: Factors Considered by the Department
Current as of: 2024 | Check for updates
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The Department will apply one or more of the following factors when determining whether to enter into a stipulated time payment agreement, in determining the existence of undue economic or financial hardship or the inability of a taxpayer to satisfy outstanding liabilities in a lump sum, and in determining the terms of the stipulated time payment agreements:
(1) The taxpayer’s previous payment record with the Department;
(2) The taxpayer’s ability to meet a payment schedule obligation;
(3) The payment amount and the length of time required to retire the outstanding liabilities;
(4) The future outlook of the taxpayer’s business and the industry;
(5) The financial impact on the taxpayer if required to make a lump sum payment;
(6) Whether the taxpayer collected, but did not remit, the tax addressed by the agreement;
(7) Whether the taxpayer institutes business practices to ensure the proper collection and remittance of tax in the future;
(8) Whether the state would eventually receive more of the taxes due by entering into a stipulated time payment agreement than by requiring a lump sum payment;
(9) Any recommendation submitted by a Department auditor based on an examination of the taxpayer’s records; and
(10) Any additional written information the taxpayer presents for the Department’s consideration.
Rulemaking Authority Florida Statutes § 213.06(1), 213.21(5) FS. Law Implemented 213.21(4) FS. History-New 10-4-89, Amended 4-29-03, 3-12-14.
Terms Used In Florida Regulations 12-17.005
- Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
- 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.
(2) The taxpayer’s ability to meet a payment schedule obligation;
(3) The payment amount and the length of time required to retire the outstanding liabilities;
(4) The future outlook of the taxpayer’s business and the industry;
(5) The financial impact on the taxpayer if required to make a lump sum payment;
(6) Whether the taxpayer collected, but did not remit, the tax addressed by the agreement;
(7) Whether the taxpayer institutes business practices to ensure the proper collection and remittance of tax in the future;
(8) Whether the state would eventually receive more of the taxes due by entering into a stipulated time payment agreement than by requiring a lump sum payment;
(9) Any recommendation submitted by a Department auditor based on an examination of the taxpayer’s records; and
(10) Any additional written information the taxpayer presents for the Department’s consideration.
Rulemaking Authority Florida Statutes § 213.06(1), 213.21(5) FS. Law Implemented 213.21(4) FS. History-New 10-4-89, Amended 4-29-03, 3-12-14.