Enlarge image | Governmental Leasehold DR-601G R. 01/16 Intangible Personal Property Tax Return Page 1 For Year: 2024 TC Rule 12C-2.0115 Florida Administrative Code Effective 01/16 FEIN : SSN(if no FEIN): Business Partner # : Contract Object # : Handwritten Example Typed Example 0 1 2 3 4 5 6 7 8 9Use black ink. 0123456789 Mail return and check payable to: FLORIDA DEPARTMENT OF REVENUE 5050 W TENNESSEE ST TALLAHASSEE FL 32399‑0100 The Florida Legislature has provided that all leasehold estates, or any possessory interest created thereby, in property of the United States, the State of Florida, or any of its political subdivisions, municipalities, agencies, authorities, or other governmental units, are to be taxed as intangible personal property if the leased property is undeveloped or predominately used for a residential or commercial purpose, and rental payments are due in consideration of the leasehold estate or possessory interest. Lessees of governmentally owned property are required to file an annual intangible tax return, unless the leasehold estate qualifies for specific exemptions, beginning with the 1984 tax year. If the calculated tax due is less than sixty dollars ($60), no payment is required. However, the taxpayer should file this return without payment so the Department is aware that no tax is owed and will not take collection action(s) regarding this filing period. Our records are computerized and all information is maintained by account number. Your account number is your Social Security Number (SSN) or Federal Employer Identification Number (FEIN). Please refer to these numbers in all correspondence. Show your correct number on your return. Social security numbers are used by the Florida Department of Revenue as unique identifiers for the administration of Florida’s taxes. Social security numbers obtained for tax administration purposes are confidential under sections 213.053 and 119.071, Florida Statutes, and not subject to disclosure as public records. Collection of your SSN is authorized under state and federal law. Visit our Internet site at: floridarevenue.com and select “Privacy Notice” for more information regarding the state and federal law governing the collection, use, or release of SSNs, including authorized exceptions. HOW TO COMPUTE THE TAX Line 1 Annual Rental Payment — To compute the value of your leasehold estate, de‑ Line 6 Penalty and Interest (refer to details on Page 3) — termine the amount of annual market rent for the property and enter the amount Line 6a. For returns filed after the due date, enter penalty amount due with the on Line 1. tax payment for delinquency and late-filing penalties. Line 2 Valuation Factor — Enter on Line 2 the valuation factor for the years remaining Line 6b. For taxes paid after the due date, enter interest due with the late-filed on the lease, from the Valuation Factor Table. Also, enter the number of years tax payment. remaining on the lease in the space provided. Total the amounts on Line 6a and Line 6b and enter the sum on Line 6. Line 3 Taxable Amount — Multiply the annual rental payment on Line 1 by the valua‑ Line 7 Total Payment Due — For returns filed on or before the due date, subtract Line tion factor on Line 2 and enter the result on Line 3. 5 from Line 4 and enter the result on Line 7. For returns filed after the due date, add Line 4 plus Line 6 and enter the result on Line 7. Line 4 Tax Due — Multiply the amount on Line 3 by .0005 ($.50 tax for each $1,000 value) and enter the result on Line 4. If Line 4 is less than $60, no payment is Line 8 Less Amount Paid with Extension — Enter any amount paid with an exten‑ due. sion on Line 8. Line 5 Discount — You may claim a discount for early payment. Consult the FILING Line 9 Payment Due — Subtract amount on Line 8 from Line 7 and enter result on DATE section on Page 3. Line 9. ***DO NOT DETACH COUPON*** Governmental Leasehold Intangible Personal Property Tax Return HD/PM Date: / / DR-601G US DOLLARS R. 01/16 1. Annual Rental Payment FEIN 2. Valuation Factor , , ‑ Years Remaining _____ SSN (if no FEIN) ‑ ‑ 3. Taxable Amount 4. Tax Due , , DR-601G (Tax Rate = .0005) 5. Discount , See Instructions Above 6. Penalty and Interest Enter total penalties, and Interest below. a. Penalty $ _______ b. Interest $ _______ Under penalties of perjury, I declare that I have read the foregoing tax return and that , the facts stated in it are true. 7. Total Payment Due __________________________________________________________ ______________ 8. Less Amount Paid , Signature of taxpayer Date with Extension , ________________________________________ (_______) _________________________ 9. Payment Due Title Phone number (include area code) , 9100 0 20240131 0018015031 0 9999999999 0000 0 |
Enlarge image | DR-601G R. 01/16 Page 2 Taxpayer Name: __________________________________________ Telephone Number: ( _______ ) _____________________ Area Code County Property Identification Number: _________________________ FEIN ______________________________________________ County Where Property Located: _____________________________ SSN (if no FEIN): _____________________________________ Schedule A Factors for valuation of each leasehold estate. Complete this supplemental schedule and mail with your return. 1. a. Name the governmental unit owning the property. _______________________________________________________________________________ b. To what governmental agency is the consideration or “rent” paid? __________________________________________________________________ c. Physical location of governmental property occupied (street, city, ZIP). ______________________________________________________________ ______________________________________________________________________________________________________________________ 2. What is the legal description of the property? ___________________________________________________________________________________ ______________________________________________________________________________________________________________________ 3. a. Describe the property occupied. _____________________________________________________________________________________________ b. Describe the improvements belonging to the governmental unit. ____________________________________________________________________ ______________________________________________________________________________________________________________________ 4. a. Have you made improvements to this property? ( ) yes ( ) no b. Describe those improvements. ______________________________________________________________________________________________ ______________________________________________________________________________________________________________________ c. Do your improvements become the property of the governmental unit owning the location? ( ) yes ( ) no d. What is your estimate of the value of improvements you have made to this property? $ _________________________________________________ 5. a. Describe your use of this property or the type of activity conducted at this location, and the number of years you have been at this location. ________ ______________________________________________________________________________________________________________________ b. How long do you intend to occupy the property? ________________________________________________________________________________ 6. a. Is there a written agreement between you and the governmental unit owning the property? ( ) yes ( ) no b. Is this agreement recorded in the official records of the county? ( ) yes ( ) no c. If so, what is the official record book and page number where recorded? ____________________________________________________________ ______________________________________________________________________________________________________________________ 7. a. Does the governmental entity that owns the property share in the profit as a form of rent? ( ) yes ( ) no b. If so, what is the basis or formula used to determine the percentage or amount payable to the governmental unit? ____________________________ ______________________________________________________________________________________________________________________ 8. a. What is the term of your lease (in years)? _____________________________________________________________________________________ b. How many years remaining as of January 1 of this tax year? ______________________________________________________________________ 9. What is the amount actually paid for the privilege of using this property? _____________________________________________________________ 10. What is the basis for determining the amount of the rent stated in your lease agreement? _______________________________________________ ______________________________________________________________________________________________________________________ ______________________________________________________________________________________________________________________ 11. Is this consideration or “rent” paid weekly, monthly, yearly, or other? _________________________________________________________________ 12. Does the rent include payments for improvements? ( ) yes ( ) no 13. a. Do you file a tangible personal property tax return with the county property appraiser? ( ) yes ( ) no b. What county(ies)? _______________________________________________________________________________________________________ Location address (if different than mailing address): Street Address _________________________________________________________________________ City ____________________________ State _______ZIP ____________ County ____________________ Telephone Number: ( ________) ___________________________ Indicate changes to mailing address below: Name ________________________________________________________________________________ Street Address _________________________________________________________________________ City ____________________________ State _______ZIP ____________ County ____________________ Telephone Number: ( ________) ___________________________ |
Enlarge image | DR-601G R. 01/16 Instructions Page 3 GENERAL INFORMATION Example: $64.33 (tax) X .04 (January discount) = $ 2.57 (discount Florida law classifies a lessee’s interest in property leased from a allowed) governmental unit as intangible property, where the lessee makes rental payments in consideration of the leasehold estate or possessory interest, EXTENSION OF TIME whether the leased property is undeveloped or is used for a residential A request for an extension of time for filing may be submitted for review. or a commercial purpose. Form DR-602G must be received by the Department on or before June 30 of the tax year. A leasehold interest created by an original lease for 100 years or more, regardless of renewal options, is considered as creating an ownership PENALTY right in the leased property and the property will not be classified The return, with full payment of tax, must be postmarked no later than as intangible property. Property financed, acquired or maintained June 30 of the applicable tax year to avoid penalty. If June 30 falls on using funds resulting from the issuance of bonds by Florida industrial a Saturday, Sunday, or a legal state or federal holiday and the return is development authorities or research and development authorities under postmarked or delivered to the Department on the next workday, it is Parts II, III, or V of Chapter 159, Florida Statutes (F.S.), is considered considered timely. to be owned and the lessee’s interest is not classified as intangible Delinquency penalty is assessed on tax not paid by June 30. The property. penalty rate is 10% per month or portion of a month, not to exceed a A lessee of governmental property will be exempt from annual intangible maximum of 50% of the tax due. tax, provided the lease contract requires that the lessee provide space Specific late filing penalty is assessed on tax returns postmarked after on the leasehold estate for use by a governmental entity. June 30. The penalty rate is 10% per month or portion of a month until Lessees leasing property classified as agricultural land or land used the return is filed, not to exceed a maximum of 50% of the tax due. exclusively for noncommercial public recreational purposes, or leasing The combined total of the delinquency penalty and specific late filing property used for a governmental, municipal, or public purpose or penalty will not exceed 10% per month or portion of a month, not to function as defined in section 196.012(6), F.S., and lessees qualified as exceed a maximum of 50% of the tax due. an organization which uses the property for literary, scientific, religious or charitable purposes, are not subject to intangible tax on their leasehold INTEREST interest. If the tax is not paid by June 30, you owe interest on the amount of tax If no rental payments are due under the agreement creating a due. Florida law provides a floating rate of interest for late payments leasehold estate, the leasehold estate is taxed as real property, not as of tax due. Interest rates, including daily rates, are published in Tax intangible property. Personal property, buildings or other real property Information Publications that are updated semiannually on January 1 improvements owned by a lessee are assessed under Ad Valorem tax and July 1 each year and posted online at: provisions, not as intangible property. floridarevenue.com/taxes/tips. Taxpayers with more than one lease MUST FILE a separate return OVERPAYMENTS OF TAX for each location. If you have overpaid your tax and want a refund of the overpayment, you WHO MUST FILE must submit an Application for Refund (Form DR‑26). The Application Every lessee of governmental property used for a residential or commercial for Refund must be submitted within three (3) years of the date the tax purpose, or that is undeveloped, is subject to the intangible tax each year was paid. The Department cannot process a claim for refund without on the value of the leasehold estate on January 1 of each tax year, if rental this form. Filing an amended return does not qualify as a claim for payments are due in consideration for the leasehold estate. refund. If the 1/2 mill ($.50 per $1000 value) annual tax levy on the value of the If you have any questions, please call Refunds at leasehold estate results in a tax of sixty dollars ($60) or more, the lessee 850-617-8585 or write to: Florida Department of Revenue, is required to file this return (Form DR-601G) and pay the tax. Refunds, PO Box 6470, Tallahassee, FL 32314‑6470. If the tax due is less than sixty dollars ($60), the taxpayer should file this AMENDED RETURNS/UNDERPAYMENTS OF TAX return without payment of the tax so the Department is aware that no tax is If you discover that intangible property was undervalued on, or omitted owed and will not take collection action(s) regarding this filing period. from, your tax return, you should file an amended return. The amended return is to be completed in its entirety, as if it was an original filing. Pay FILING DATE only the additional tax due. If the return is postmarked after June 30, The Governmental Leasehold Intangible Personal Property you will be subject to penalty and interest. Explain by separate letter, Tax Return (Form DR‑601G) covering the leasehold estate attached to the amended return, whether the property was undervalued is due January 1 and late after June 30. Returns not filed or omitted. and taxes not paid by this date are delinquent. The date of postmark or date delivered to the Department is considered VALUATION OF LEASEHOLD ESTATE the date of payment. The just value of a lessee’s leasehold estate or possessory interest to be reported on the return is determined by the rent payments for the discount may be claimed for early filing provided remaining term of the lease, at the Federal Reserve ‑ Atlanta ‑ discount A payment is postmarked on or before the last day of the rate on the last business day of the previous year, plus one (1) percent. month of one of the following filing periods: January - February 4%; March 3%; April 2%; May 1%; June 0% Tax information and forms are available online at: floridarevenue.com For assistance, call Taxpayer Services at 850-488-6800, Monday through Friday, excluding holidays. |
Enlarge image | DR-601G R. 01/16 Page 4 Valuation Factor Tables determined annually by the Department based for use of a property in the open market, as indicated by current rentals on that discount rate, plus one (1) percent, are published in Taxpayer being paid for comparable property. This should be net rent to the Information Publications on the Department’s website at floridarevenue. owner or lessor after allowance for taxes, insurance or other expenses com/taxes/tips. The Valuation Factor Table for the tax year indicated on specifically itemized as part of the rental payment. Do not deduct any the front page of this tax return is provided below. such payments that you as the user make. Nominal or token payments are not used to value the lessee’s interest. The period for which the lease payments should be valued is the In such cases, the fair market rental for the leased property is the number of years remaining under the lease on January 1 of the tax year, amount to be valued. If lease rental payments are based on some factor, exclusive of renewal options. The year in which the lease expires should such as a percentage of sales or profits, the average annual rental be considered a full year for the purpose of determining the number of actually paid for a period not to exceed the previous five years should years remaining under the lease agreement. If, on January 1 of the tax be used, provided the amount is not nominal or significantly less than year, less than one year remains under the lease agreement, the value is fair market rental. If the average amount is a nominal or token amount, determined as if a full year remained and is then prorated for the number the lease rental payment to be valued shall be the fair market rental for of months remaining under the lease agreement. the property. Market rent is the amount which would be paid annually Valuation Factor Table - 2024 (6.5%) YEARS YEARS YEARS FACTOR FACTOR FACTOR REMAINING REMAINING REMAINING 1 0.9390 34 13.5766 67 15.1583 2 1.8206 35 13.6870 68 15.1721 3 2.6485 36 13.7906 69 15.1851 4 3.4258 37 13.8879 70 15.1973 5 4.1557 38 13.9792 71 15.2087 6 4.8410 39 14.0650 72 15.2195 7 5.4845 40 14.1455 73 15.2295 8 6.0888 41 14.2212 74 15.2390 9 6.6561 42 14.2922 75 15.2479 10 7.1888 43 14.3588 76 15.2562 11 7.6890 44 14.4214 77 15.2641 12 8.1587 45 14.4802 78 15.2714 13 8.5997 46 14.5354 79 15.2783 14 9.0138 47 14.5873 80 15.2848 15 9.4027 48 14.6359 81 15.2909 16 9.7678 49 14.6816 82 15.2966 17 10.1106 50 14.7245 83 15.3020 18 10.4325 51 14.7648 84 15.3070 19 10.7347 52 14.8026 85 15.3118 20 11.0185 53 14.8382 86 15.3162 21 11.2850 54 14.8715 87 15.3204 22 11.5352 55 14.9028 88 15.3243 23 11.7701 56 14.9322 89 15.3280 24 11.9907 57 14.9598 90 15.3315 25 12.1979 58 14.9858 91 15.3347 26 12.3924 59 15.0101 92 15.3377 27 12.5750 60 15.0330 93 15.3406 28 12.7465 61 15.0544 94 15.3433 29 12.9075 62 15.0746 95 15.3458 30 13.0587 63 15.0935 96 15.3482 31 13.2006 64 15.1113 97 15.3504 32 13.3339 65 15.1280 98 15.3525 33 13.4591 66 15.1436 99 15.3545 100 15.3563 |