How do I know if I need to file a Florida Tangible Property Tax Return form?

[lauracolmedo]

First time doing taxes.

[DS30]

You would only need this FL state form if your have business or rental tangible assets located in FL (see more details below).

Please note that you will not need to file in FL unless you have business or rental tangible personal property. (If reporting tangible personal property, you would complete Form DR-405 and submit it by mail to your local property appraiser by April 1.)

Florida does not have a state individual income tax related to wages so you do not need to file an income tax return with the state.

So, if you do not have a business or rental real estate with assets in Florida, you do not need to prepare or file the Florida return in TurboTax

According to the FL 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. (s. 192.001(11)(d), F.S.)

For more information about this tangible personal property return, please refer to the following link:

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

[mssail5024]

I run a tiny Mom & Pop tour business and work 6 months a year...do I need to file a Tangible Personal Property Return in Florida ... my business consist of :  a pontoon boat, wet suits and mask and snorkels. 

[DavidS127]

Your pontoon boat is exempt under the Florida Constitution (see this link:(

(b) Motor vehicles, boats, airplanes, trailers, trailer coaches and mobile homes, as defined by law, shall be subject to a license tax for their operation in the amounts and for the purposes prescribed by law, but shall not be subject to ad valorem taxes.

Your other property may meet the definition of "personally-owned property used in the business" and if so it is exempt.

The Florida Department of Revenue website at this link has the rules and forms for the Tangible Personal....

@mssail5024

[felicia61408]

I own a very small cleaning service, I'm an llc but it is only myself. this is my first year filing. I dont really have anything for the business worth value except a vacuum cleaner for now and cleaning supplies. I have a home office space but is also shared for personal things. do I need to file the Florida tangible property tax?

[DawnC]

You may need to file the form, however, you do not need to file it through TurboTax.  You can file it through your county property appraiser if you are required to file Florida form DR-405 (Tangible Personal Property TPP).

In fact, at least one county requires the form to be filed online from the county's web site and several others have their own, modified, version of the form. It would therefore be wise to consult your county property appraiser's web site before proceeding.  You can delete the FL tax return in TurboTax. 

Complete Form DR-405 and submit it to your local property appraiser by April 1. Report all property located in the county on January 1. You must file a single return for each site in the county where you transact business. If you have freestanding property at multiple sites other than where you transact business, file a separate, but single, return for all freestanding property located in the county.   If you file your TPP return by April 1, you will be eligible for a property tax exemption of up to $25,000 of assessed value.

Tangible personal property (TPP) is all goods, property other than real estate, and other articles of value that the owner can physically possess and has intrinsic value. Inventory, household goods, and some vehicular items are excluded. (see section 192.001(11)(d), Florida Statutes).

Any of the following who own TPP on January 1 must file a TPP return with the county property appraiser by April 1 each year:

o Has a proprietorship

o Has a partnership

o Has a corporation

o Is a self-employed agent or contractor

o Leases, lends, or rents property

@felicia61408