Florida's intangible personal property tax is an annual tax based on the current market value, as if January 1, of intangible personal property owned, managed, or controlled by Florida's residents or persons doing business in Florida.

The tax applies to intangible assets such as stocks, bonds, money market fund, mutual funds, loans, notes, accounts receivable, and interest in limited partnerships registered with the Securities and Exchange Commission.

Every Florida resident who (on January 1) owns, manages, or controls intangible personal property must file an Intangible Tax Return for Individual & Joint Filers (form DR-6011). Florida residents whose intangible assets are help by security dealers and/or stockbrokers are also required to file.

You are considered a Florida resident when your true, fixed or permanent home and/or principal establishment is in Florida. You can establish Florida residency by filing a declaration of domicile, qualifying for Homestead Exemption, or registering to vote. Other actions, such as obtaining a Florida driver's license, can indicate an intent to establish residency.

Although everyone owning intangible personal property is subject to the tax, only those persons whose tax obligation is $5 or more must file a return and pay the tax. See the back panel of this brochure for how to request forms.

Money (including cash-on-hand and in checking or savings accounts), certificates of deposit (CDs), annuities, and cash values of insurance policies;
Individual retirement accounts (IRAs) when qualified under section 408 of the Internal Revenue Code;
Deferred compensation plan offered to government employees when qualified under section 457 of the Internal Revenue Code;
Bonds, notes, and other obligations issued by Florida or its municipalities, counties, and other taxing districts, or the United States government and its agencies, territories, and possessions (if these investments are held in a fund they may be taxable);
Interest in a limited partnership not registered with the Securities and Exchange Commission;
Interest in a general partnership;
Franchises; and
Notes and other obligations for payment, except bonds, to the extent secured by liens on real property.

The first $20,000 of taxable assets are exempt. Taxable assets valued between $20,000 and $100,000 are taxed at $1 per thousand dollars of value. Taxable assets valued at more than $100,000 are taxed at $2 per thousand dollars of value.

The first $40,000 of taxable assets are exempt. Taxable assets valued between $40,000 and $200,000 are taxed at $1 per thousand dollars of value. Taxable assets valued at more that $200,000 are taxed at $2 per thousand dollars of value.

If you file between January and the end of May, you may qualify for a discount. The earlier you file, the greater the discount.

Discount period	% Discount
January - February	4%
March	3%
April	2%
May	1%
June	0%

Intangible tax returns may be filed as early as January and are late if postmarked after June 30. If June 30 falls on a Saturday, Sunday, or legal state or federal holiday, the return must be postmarked (or delivered to the Department) on the next working day to be considered timely. Late returns are subject to penalties and interest.

You cannot file prior to January 1, because intangible personal property is taxed at its just valuation as of January 1.

Returns or payments postmarked after June 30 are subject to the following penalties:

 

A delinquency penalty of 10% per month or portion of a month, not to exceed 50% of the tax due.
A specific late filing penalty of 30% per year or portion of a year the tax return is late. There is no maximum amount for this penalty.

INTEREST on the amount of tax not paid by the due date accrues at the rate of 12% per year from July 1 of the tax year to the date the tax is paid.