Florida business tax

[mlfunderburk]

Do I have to file a Florida tax return for my sole proprietor business?  I am thinking no, since it roles into my personal income.  But we have a rental house that is managed through our LLC, and the common advice out there is "don't file unless you have a FL business or a rental."

[Anonymous_]

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@mlfunderburk wrote:

....the common advice out there is "don't file unless you have a FL business or a rental."

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The return (Form DR-405) lists tangible personal property that you use in your rental house or your business. Basically, it is simply a mechanism for the county property appraiser to levy a personal property tax which is functionally the same as the tax you pay on your real estate.

You can get more information after selecting your county at the link below.

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

[DavidD66 · Accepted solution]

According to the Florida Department of Revenue:

Tangible Personal Property (TPP) means all goods, chattels, and other articles of value (excluding some vehicular items) capable of manual possession and whose chief value is intrinsic to the article itself. Inventory and household goods are excluded (section 19​2.001(11)(d)​, F.S.)​.​

Anyone who owns TPP on January 1 and who has a proprietorship, partnership, or corporation, or is a self-employed agent or a contractor, must file a tangible personal prope​rty return to the property appraiser by April 1 each year (​section 193.062, F.S.)​. Property owners who lease, lend, or rent property must also file. ​

[Anonymous_]

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@DavidD66 wrote:

Tangible Personal Property (TPP) means all goods, chattels, and other articles of value (excluding some vehicular items) capable of manual possession and whose chief value is intrinsic to the article itself. Inventory and household goods are excluded (section 19​2.001(11)(d)​, F.S.)​.​

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It really should be noted that the exclusion of household goods, such as furniture, appliances, et al, does NOT apply to those items when they are used in connection with a hotel, motel, apartment, or rental unit. The value of tangible personal property of that nature is required to be reported on Form DR-405.