Published on: 11115829. Approval of the proposed amendments to Rule 12B-4.003, F.A.C. (Public Use Forms) and the creation of Rule 12B-4.060, F.A.C. (Tax on Transfers of Ownership Interest in Legal Entities). These rules were noticed in the September 30, 2011, edition of the Florida Administrative Weekly (Vol. 37, No. 39, pp. 2985-2988), and amended as provided in the Notice of Change published in the December 16, 2011, edition of the Florida Administrative Weekly (Vol. 37, No. 50, pp. 4324-4325).; March 20, 2012, during a regular meeting of the Governor and Cabinet, which begins at 9:00 a.m. This subject matter was previously scheduled for the February 28, 2012, meeting of the Governor and Cabinet, as published in the February 17, 2012, edition of the Florida Administrative Weekly (Vol. 38, No. 7); Cabinet Meeting Room, Lower Level, The Capitol, Tallahassee, Florida
Published on: 11074701. Approval of the proposed amendments to Rule 12B-4.003, F.A.C. (Public Use Forms) and the creation of Rule 12B-4.060, F.A.C. (Tax on Transfers of Ownership Interest in Legal Entities). These rules were noticed in the September 30, 2011, edition of the Florida Administrative Weekly (Vol. 37, No. 39, pp. 2985-2988), and amended as provided in the Notice of Change published in the December 16, 2011, edition of the Florida Administrative Weekly (Vol. 37, No. 50, pp. 4324-4325).; February 28, 2012, during a regular meeting of the Governor and Cabinet, 9:00 a.m. This subject matter was previously scheduled for the March 20, 2012, meeting of the Governor and Cabinet, as published in the January 27, 2012, edition of the Florida Administrative Weekly (Vol. 38, No. 4, p. 428).; Cabinet Meeting Room, Lower Level, The Capitol, Tallahassee, Florida
Published on: 10959077. Approval of the proposed amendments to Rule 12B-4.003, F.A.C. (Public Use Forms) and the creation of Rule 12B-4.060, F.A.C. (Tax on Transfers of Ownership Interest in Legal Entities). These rules were noticed in the September 30, 2011, edition of the Florida Administrative Weekly (Vol. 37, No. 39, pp. 2985-2988), and amended as provided in the Notice of Change published in the December 16, 2011, edition of the Florida Administrative Weekly (Vol. 37, No. 50, pp. 4324-4325).; March 20, 2012, during a regular meeting of the Governor and Cabinet, 9:00 a.m.; Cabinet Meeting Room, Lower Level, The Capitol, Tallahassee, Florida. The date, time, or place of a Cabinet meeting is subject to change. Please refer to the Cabinet Agenda posted to the Department’s Internet site at http://dor.myflorida.com/dor/rules prior to attending a meeting.
Published on: 10758869. Proposed changes to Rule 12B-4.003, F.A.C. (Public Use Forms) and proposed Rule 12B-4.060, F.A.C. (Tax on Transfers of Ownership Interest in Legal Entities), as published in Vol. 37, No. 39, pp. 2985-2988, September 30, 2011, issue of the Florida Administrative Weekly. A Notice of Change is published in this issue of the Florida Administrative Weekly.
; January 12, 2012, 2:00 p.m.
; 2450 Shumard Oak Boulevard, Building One, Room 1220, Tallahassee, Florida
Published on: 10442552. Section 201.02(1)(b), F.S., created by Chapter 2009-131, Laws of Florida (L.O.F.), imposes tax on transfers of ownership interests in a conduit entity when the transfer is within three years of a transfer of Florida real property into the conduit entity, and documentary stamp tax was not paid on the full consideration when the real property was transferred into the conduit entity. The purpose of the creation of Rule 12B-4.060, F.A.C. (Tax on Transfers of Ownership Interest in Legal Entities), is to clarify the application of the tax. The purpose of the proposed amendments to Rule 12B-4.003, F.A.C., is to adopt, by reference, changes to Form DR-228 (Documentary Stamp Tax Return for Nonregistered Taxpayers’ Unrecorded Documents) to provide for payment of the tax when documents to transfer ownership in a conduit entity are not filed or recorded.
Published on: 10241568. Section 201.02(1)(b), F.S., as created by Chapter 2009-131, Laws of Florida (L.O.F.), imposes tax on transfers of ownership interests in a conduit entity when the transfer is within three years of a transfer of Florida real property into the conduit entity, and documentary stamp tax was not paid on the full consideration when the real property was transferred into the conduit entity. Chapter 2009-131, L.O.F., authorized the Department to promulgate an emergency rule and a permanent rule to implement the provisions of the law.
The purpose of the proposed amendments to Rule 12B-4.003, F.A.C. (Public Use Forms), is to adopt, by reference, changes to the Documentary Stamp Tax Return for Nonregistered Taxpayers’ Unrecorded Documents (Form DR-228) to provide for the reporting of the tax on transfers of ownership interest in a conduit entity that are not filed or recorded in Florida.
The purpose of the creation of Rule 12B-4.060, F.A.C. (Tax on Transfers of Ownership Interest in Legal Entities), is to provide: (1) definitions of the terms “conduit entity” and “full consideration” for purposes of the rule; (2) that tax is due on the transfer of an ownership interest in a conduit entity that occurs within three years of the transfer of real property to the conduit entity; (3) that tax is due on the amount of consideration paid or given for the ownership interest in the conduit entity and how the tax is to be computed; (4) when the tax is due and how the tax is to be remitted to the Department; (5) that tax is not due on a gift of ownership interest to the conduit entity or transfers of equity interest that are traded on public regulated security exchanges; (6) that the discretionary surtax imposed in Miami-Dade County applies to transfers of ownership as provided in the rule; (7) that provisions of this rule do not affect the tax imposed under Section 201.02(4), F.S., on documents which convey or transfer, pursuant to Section 689.071, F.S., any beneficial interest in lands, tenements, or other real property; and (8) examples of when the tax is due.