Senate Bill 0906

    Florida Senate - 1998                                   SB 906

    By Senator Cowin





    11-789-98

  1                      A bill to be entitled

  2         An act relating to intangible personal property

  3         taxes; amending s. 199.185, F.S.; providing an

  4         exemption from the taxes for accounts

  5         receivable; providing an effective date.

  6

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

  8

  9         Section 1.  Present paragraphs (a) through (k) of

10  subsection (1) of section 199.185, Florida Statutes, are

11  redesignated as paragraphs (b) through (l), respectively, and

12  a new paragraph (a) is added to that subsection to read:

13         199.185  Property exempted from annual and nonrecurring

14  taxes.--

15         (1)  The following intangible personal property shall

16  be exempt from the annual and nonrecurring taxes imposed by

17  this chapter:

18         (a)  Accounts receivable arising in the normal course

19  of business.

20         Section 2.  This act shall take effect July 1, 1998.

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23                          SENATE SUMMARY

24    Exempts accounts receivable arising in the normal course
      of business from the taxes on intangible personal
25    property.

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