Florida has no personal income tax. However, a personal property tax relates to tangible items you use in your business.
Here are a few common examples of what to report:
- Frequently used items: Things you own that you frequently use for business that you can pick up. Some examples include office tables and chairs, computers, laptops,etc.
- Vehicle equipment: Generally anything you attach to your vehicle after you’ve bought it must be reported.
- Items you lease out: If leasing out items is part of your business, then report them.
- Depreciable and depreciated items: Even if it is fully-depreciated for income tax purposes, but it still must be reported on your TPP return.
