Senate Bill 1568

    Florida Senate - 1998                                  SB 1568

    By Senator McKay





    26-1529-98                                           See HB 63

  1                      A bill to be entitled

  2         An act relating to tax administration; amending

  3         s. 193.063, F.S., which authorizes the property

  4         appraiser to grant an extension for filing

  5         tangible personal property tax returns;

  6         revising requirements for the request for an

  7         extension; amending s. 199.282, F.S.; reducing

  8         the penalties for failure to timely pay annual

  9         or nonrecurring intangible personal property

10         tax and failure to timely file an annual tax

11         return; providing an effective date.

12

13  Be It Enacted by the Legislature of the State of Florida:

14

15         Section 1.  Section 193.063, Florida Statutes, is

16  amended to read:

17         193.063  Extension of date for filing tangible personal

18  property tax returns.--The property appraiser may, at her or

19  his discretion, grant an extension for the filing of a

20  tangible personal property tax return for up to 45 days. A

21  request for extension must be made in time for the property

22  appraiser to consider the request and act on it before the

23  regular due date of the return. A request for extension must

24  include the name of the taxable entity, the tax identification

25  number of the taxable entity, and the reason an extension

26  should be granted, and may be signed by the tax preparer or an

27  individual authorized by the taxable entity.

28         Section 2.  Subsections (3) and (4) of section 199.282,

29  Florida Statutes, are amended to read:

30         199.282  Penalties for violation of this chapter.--

31

                                  1

CODING: Words stricken are deletions; words underlined are additions.






    Florida Senate - 1998                                  SB 1568
    26-1529-98                                           See HB 63




  1         (3)(a)  If any annual or nonrecurring tax is not paid

  2  by the due date, a delinquency penalty shall be charged.  The

  3  delinquency penalty shall be 5 10 percent of the delinquent

  4  tax for each calendar month or portion thereof from the due

  5  date until paid, up to a limit of 25 50 percent of the total

  6  tax not timely paid.

  7         (b)  If any annual tax return required by this chapter

  8  is not filed by the due date, a penalty of 5 30 percent of the

  9  tax due with the return shall be charged for each calendar

10  month year or portion thereof from the due date until filed,

11  up to a limit of 25 percent of the total tax due of the year

12  during which the return remains unfiled.

13         (4)  If an annual tax return is filed and property is

14  either omitted from it or undervalued, then a specific penalty

15  shall be charged.  The specific penalty shall be 15 30 percent

16  of the tax attributable to each omitted item or to each

17  undervaluation. No delinquency or late filing penalty shall be

18  charged with respect to any undervaluation.

19         Section 3.  This act shall take effect January 1, 1999.

20

21            *****************************************

22                       LEGISLATIVE SUMMARY

23    Allows the tax preparer or person authorized by a taxable
      entity to sign requests for extensions for the filing of
24    a tangible personal property tax return.  Reduces the
      penalties for failure to timely file an intangible tax
25    return or pay taxes on intangible personal property.

26

27

28

29

30

31

                                  2