Get the free Governmental Leasehold Intangible Personal Property Tax Return

This document is used for filing an annual intangible personal property tax return for leasehold estates or possessory interests in government-owned property in Florida.

How to fill out governmental leasehold intangible personal

How to fill out Governmental Leasehold Intangible Personal Property Tax Return

1. Obtain the Governmental Leasehold Intangible Personal Property Tax Return form from the local tax authority's website or office.
2. Review the form's instructions carefully to understand the required information.
3. Fill in your name or the name of the entity that holds the leasehold interest at the top of the form.
4. Provide the physical address of the property subject to the leasehold.
5. Enter the leasehold's start date and expiration date in the appropriate fields.
6. Calculate the intangible value of the leasehold interest based on the guidelines provided in the instructions.
7. Report any exemptions or deductions that apply to your situation, as outlined in the instructions.
8. Review all entered information for accuracy.
9. Sign and date the form at the designated section to certify that the information provided is correct.
10. Submit the completed form to the local tax authority by the specified deadline, either by mail or online.

Who needs Governmental Leasehold Intangible Personal Property Tax Return?

1. Individuals or businesses that hold a leasehold interest in government-owned real property are required to file the Governmental Leasehold Intangible Personal Property Tax Return.

People Also Ask about

What is the tangible personal property tax?

Tangible personal property is anything your business owns that is movable. This property can include office furniture and supplies, machinery, tools, and vehicles. Like real property, tangible personal property tax is assessed based on the presumed value of the assets.

Do I need to file a Florida tax return if I have a rental property?

On the federal level, rental income must be reported on Schedule E, with specific deductions available for expenses such as mortgage interest and property management fees. At the state level, Florida does not charge a personal income tax, but landlords must pay a state sales tax on short-term rentals.

Who is exempt from intangible tax in Florida?

Government Agency Loans, Industrial Loans, and Aircraft Liens: Certain types of mortgage transactions are exempt from the intangible tax. This includes loans provided by government agencies, mortgages associated with industrial purposes, and those secured by a lien on aircraft.

Is a lease intangible personal property?

Intangible Personal Property includes, but are not limited to, accounts receivable, bonds, capitalized advertising costs, cash, contracts, copyrights, customer base, exploration permits and export permits, franchises, going concern, goodwill, leases, licenses, organization costs, patents, software, trademarks and trade

Who must file a Florida tangible personal property tax return?

Who must file? Anyone in possession of assets on January 1 who has either a proprietorship, partnership, corporation or is a self-employed agent or contractor must file each year. Property owners who lease, lend or rent property must also file.

What is the general rule for tangible personal property?

Tangible personal property includes equipment, supplies, and any other property (including information technology systems) other than that is defined as an intangible property. It does not include copyrights, patents, and other intellectual property that is generated or developed (rather than acquired) under an award.

Who needs to file a Florida tangible property tax return?

Anyone who owns TPP on January 1st and who has a proprietorship, partnership, or corporation or is a self-employed agent or a contractor must file a TPP Return (Form DR-405) with the property appraiser by April 1st of each year (section 193.062, F.S.) or the first business day, should the due date fall on a weekend or

What is an intangible tax return?

ing to Merriam-Webster Dictionary, intangible taxes are, "a tax imposed on the privilege of owning, transferring, devising, profiting by, or otherwise dealing with or benefiting from intangibles."

For pdfFiller’s FAQs

What is Governmental Leasehold Intangible Personal Property Tax Return?

The Governmental Leasehold Intangible Personal Property Tax Return is a tax form that must be filed to report the value of intangible personal property associated with governmental leasehold interests.

Who is required to file Governmental Leasehold Intangible Personal Property Tax Return?

Entities or individuals who hold a leasehold interest in governmental property and generate income from that property are required to file this return.

How to fill out Governmental Leasehold Intangible Personal Property Tax Return?

To fill out the return, taxpayers must provide details about the leasehold, including the property location, the duration of the lease, and the estimated fair market value of the leasehold interest.

What is the purpose of Governmental Leasehold Intangible Personal Property Tax Return?

The purpose of the return is to assess and collect taxes on the intangible personal property value of leasehold interests in government-owned properties.

What information must be reported on Governmental Leasehold Intangible Personal Property Tax Return?

The return must report the leaseholder's name, address, lease specifics, property details, and its appraised intangible value.