Florida Tangible Taxes ? what you need to know

Posted by Valezar & Associates on October 30th, 2017

If you are running a business or rental property in Florida, then you may need to pay Florida tangible taxes. Tangible property refers to everything used in a business or rental property that is not real estate. For example, furniture, equipment, office supplies, tools, computers, signs and more.

Filing Florida Tangible Taxes

In the first year of your business, you’ll need to file an initial tax return for any tangible personal property that you own on January 1st by April 1st of that year. Following that initial return, you’ll need to file a return if the value of your tangible property is more than ,000. This is according to the Florida Statutes. Keep in mind that all property that’s either in use or in your possession needs to be reported, whether it’s fully depreciated in your accounting records or not.

https://www.valezar.com/2017/10/16/florida-tangible-taxes-what-you-need-to-know/