Do we need to file an income tax return in florida if we own rental real estate in florida but live in colorado?

[tagteam · Accepted solution]

Florida does not impose an individual income tax so you do not need to file any kind of income tax return with the state.

However, counties in Florida are authorized to impose a tangible personal property tax on assets used in businesses and rental real estate located in Florida (essentially, this tax is the same as your real estate tax only imposed on certain personal property). 

You can read more about the tangible personal property tax at the links below. The second link is a list of web sites of county property appraisers which will provide you with specific information for the county in which your rental is located.

http://dor.myflorida.com/dor/property/tpp/

http://dor.myflorida.com/dor/property/appraisers.html

[christec]

Hi there @tagteam.  Thanks for your help.  I would like to add:  do I need to include the income from my rental in Florida

on my COLO state return?

[AmyC]

Yes you do include all income in your resident state return. If your real estate in FL offers substantial or transient service, think more like a hotel, then you do have an obligation. The Sales and Use Tax on Rental of Living or Sleeping states:

Florida's 6% state sales tax, plus any applicable discretionary sales surtax, applies to rental charges or room rates paid for the right to use or occupy living quarters or sleeping or housekeeping accommodations for rental periods six months or less, often called “transient rental accommodations” or “transient rentals ...

See  FL department of Revenue for more.