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Author: CheetahChrome One star, 50 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 121095  
Subject: Filing a Tax return in FL? Date: 2/9/2003 7:46 PM
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My daughter moved to FL last year. I do her taxes using TurboTax. i am unsure of whether I need to file anything in FL for her.

FL has no income tax, but TurboTax does appear to have forms available for FL. I could just spend the $30 & find out, but I'm hoping someone here can tell me: will she need to file any kind of return to FL?

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Cheetah
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Author: TheBadger Big red star, 1000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 63687 of 121095
Subject: Re: Filing a Tax return in FL? Date: 2/9/2003 8:18 PM
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Florida has an intangibles tax but there are many excluded account types & exemptions. Just key in "State of Florida Department of revenue" in a browser & you will arrive at the website & can see the forms.

TheBadger


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Author: buzman Big red star, 1000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 63689 of 121095
Subject: Re: Filing a Tax return in FL? Date: 2/9/2003 8:36 PM
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The FL intangible tax has a 40k exclusion. Also IRAs and any securities held in a Qualified Retirement Plan are exempted.

Don't spend the money.

Go to www.myflorida.com and search for intangible tax form.

It's very simple(.001) of tangibile assets.

buzman


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Author: irasmilo Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 63690 of 121095
Subject: Re: Filing a Tax return in FL? Date: 2/9/2003 9:21 PM
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My daughter moved to FL last year. I do her taxes using TurboTax. i am unsure of whether I need to file anything in FL for her.

FL has no income tax, but TurboTax does appear to have forms available for FL. I could just spend the $30 & find out, but I'm hoping someone here can tell me: will she need to file any kind of return to FL?


Florida has an intangibles tax. Basically, you take the value of your portfolio on January 1 and apply a percentage to it to calculate your tax. The return for 2003 (based on 1/1/03 values) is due on June 30, 2003. There are discounts for early payment.

You may be able to get the form here (the server was down when I tried it):
http://www.myflorida.com/dor/forms/2003/dr601i_is_in.pdf

Ira

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