Fed and State Taxes

rabylt6174 · ‎September 14, 2020

I am considering buying a condo in Fla for Both living and rental. Do I have to prepare 2 separate Fed and State taxes since I live in Missouri, one for Mo and one for Fla?

Anonymous_ · ‎September 14, 2020

Florida does not levy an individual income tax.

If you rent your condo on a short-term basis and it is furnished, you may need to register an account with your local county property appraiser (and, possibly, file a Form DR-405) and also pay sales tax to the state and county (the latter commonly referred to as tourist development tax) if you rent your condo for a period of six months or less.

See the information at the link below for further details.

https://floridarevenue.com/property/Pages/LocalOfficials.aspx

View solution in original post

Anonymous_ · ‎September 14, 2020

Florida does not levy an individual income tax.

If you rent your condo on a short-term basis and it is furnished, you may need to register an account with your local county property appraiser (and, possibly, file a Form DR-405) and also pay sales tax to the state and county (the latter commonly referred to as tourist development tax) if you rent your condo for a period of six months or less.

See the information at the link below for further details.

https://floridarevenue.com/property/Pages/LocalOfficials.aspx