Published on: 13702625. Section 1, Chapter 2013-172, L.O.F., permanently extends the elimination of the requirement for filing a Florida estate tax return for the estates of decedents dying on or after January 1, 2005. The purpose of proposed changes to Rule Chapter 12C-3, F.A.C. (Estate Tax), is to remove obsolete provisions and provide representatives of Florida decedents the final certificate or affidavit that will allow the removal of a Florida estate tax lien on real property owned by the decedent.
Published on: 13326459. Section 1, Chapter 2013-172, L.O.F., permanently extends the elimination of the requirement for filing a Florida estate tax return for the estates of decedents dying on or after January 1, 2005. The purpose of proposed changes to Rule Chapter 12C-3, F.A.C. (Estate Tax), is to remove obsolete provisions and provide representatives of Florida decedents the final certificate or affidavit that will allow the removal of a Florida estate tax lien on real property owned by the decedent.
The purpose of the proposed amendments to Rule 12C-3.0015, F.A.C. (Affidavit – No Florida Estate Tax), is to provide that no Florida estate tax return is required when the decedent died on or after January 1, 2005, and to remove obsolete provisions.
The purpose of the proposed amendments to Rule 12C-3.008, F.A.C. (Public Use Forms), is to update the Florida estate tax return and the Affidavit of No Florida Estate Tax Due to reflect the provisions of section 1, Chapter 2013-172, L.O.F., and to remove obsolete forms.
The purpose of the proposed amendments to Rule 12C-3.010, F.A.C. (Final Certificate and Nontaxable Certificate Mailing Procedure), is to provide the certificate or affidavit that will allow the removal of a Florida estate tax lien on real property owned by a Florida decedent.
The purpose of the proposed repeal of the following rule sections of Rule Chapter 12C-3, F.A.C. (Estate Tax), is to remove obsolete provisions: Rule 12C-3.0025, F.A.C. (Jointly Owned Property), Rule 12C-3.0035, F.A.C. (Calculation of Tax upon Resident Decedent Estates), Rule 12C-3.0045, F.A.C. (Calculation of Tax upon Nonresident Decedent Estates), Rule 12C-3.0055, F.A.C. (Calculation of Tax upon Nonresident Alien Decedent Estates), Rule 12C-3.011, F.A.C. (Tax on Generation-Skipping Transfers), and Rule 12C-3.012, F.A.C. (Releases).
Published on: 11758939. Section 1, Chapter 2011-86, L.O.F., extends the expiration of the period of exemption from filing a Florida Estate Tax Return for decedents who die after December 31, 2004, and prior to January 1, 2013. The purpose of the proposed amendments to Rule 12C-3.010, F.A.C. (Final Certificate and Nontaxable Certificate Mailing Procedure), is to update the rule to provide the statutory period for the exemption from the requirement to file a Florida Estate Tax Return.
Published on: 6539466. Florida’s estate tax is based on the federal credit for state death taxes. Effective January 1, 2005, the effective rate for the federal credit was reduced to zero, and a deduction was enacted. Since, the effective rate for the federal credit is now zero, the Florida estate tax is zero. This federal provision is scheduled to sunset on December 31, 2010. In the event that no further action is taken by the United States Congress and President regarding the federal credit, the Florida estate tax will be applicable for the estate of a decedent whose date of death is after December 31, 2010.
Florida continues to impose an automatic lien on a decedent’s Florida real property. To remove the lien, the estate must file certain forms regarding Florida estate tax with the clerk of the court. These proposed changes are necessary to update the Florida estate tax rules and forms while simplifying and easing the filing burden on estates.
Published on: 6165434. Florida’s estate tax is based on the federal credit for state death taxes. Effective January 1, 2005, the effective rate for the federal credit was reduced to zero, and a deduction was enacted. Since, the effective rate for the federal credit is now zero, the Florida estate tax is zero. This federal provision is scheduled to sunset on December 31, 2010. In the event that no further action is taken by the United States Congress and President regarding the federal credit, the Florida estate tax will be applicable for the estate of a decedent whose date of death is after December 31, 2010.
Florida continues to impose an automatic lien on a decedent’s Florida real property. To remove the lien, the estate must file certain forms regarding Florida estate tax with the clerk of the court. These proposed changes are necessary to update the Florida estate tax rules and forms while simplifying and easing the filing burden on estates.
Specifically, the proposed amendments to Rule 12C-3.0015, F.A.C.: (1) remove the requirement to file Form DR-301, Preliminary Notice and Report, which lists the assets of the estate; (2) update the provisions regarding when an estate is required to file a Florida estate tax return and what documentation must be filed with that return; and (3) provide what documents will be issued by the Department to remove the automatic Florida estate tax lien on the decedent's real property when a Florida estate tax return is required, including when a federal return is required and when no federal return is required.
The proposed repeal of Rule 12C-3.007, F.A.C. (Interest on Overpayments of Taxes) removes the obsolete provision that no interest will be paid on refunded estate tax or interest. Section 213.255, F.S., and Rule 12-3.0015, F.A.C., provide for the payment of interest on overpayments of taxes administered by the Department.
The proposed amendments to Rule 12C-3.008, F.A.C. (Public Use Forms): (1) update information on how to obtain forms from the Department; (2) remove Form DR-301, Preliminary Notice and Report, which is no longer used by the Department; (3) adopt, by reference, changes to Form DR-308, Request and Certificate for Waiver and Release of Florida Estate Tax Lien, to include the social security number of the decedent as an identifying number to administer the removal of Florida’s automatic lien on the decedent's real property and to remove the social security number from the portion of the form that is filed with the clerk of the circuit court; (4) adopt, by reference, new Form DR-313, Affidavit of No Florida Estate Tax Due When Federal Return is Required; and (5) adopt, by reference, updates to Form F-706, Florida Estate Tax Return for Residents, Nonresidents, and Nonresident Aliens.
The proposed repeal of Rule 12C-3.009, F.A.C. (Penalties and Interest), removes obsolete or unnecessary provisions regarding the imposition of penalties and interest imposed on a deficiency in filing a Florida estate tax return or paying the amount of estate tax due with a return that are provided in Sections 198.15, 198.18, and 198.37-198.40, F.S.
The proposed amendments to Rule 12C-3.010, F.A.C. (Final Certificate and Nontaxable Certificate Mailing Procedure), provide that the Department will no longer issue a Final Certificate or Nontaxable Certificate to the personal representative of an estate for a decedent who died after December 31, 2004, and before January 1, 2011, and which affidavits may be filed by the person representative to evidence that no Florida estate tax liability is due for decedents who died during that period.
The proposed repeal of Rule 12C-3.013, F.A.C. (Protest Procedures), removes the unnecessary referral to Rule 12-6.0033, F.A.C., to protest any billing issued to an estate by the Department.