Taxes & Licensing Sales & Use Tax
Sales & Use Tax
Sales and Use Tax is payable on ALL rental income received. Your management company will usually collect and report all Sales and Use Tax on the rentals that they handle. However, if you receive rental income in your home country you will need to collect and report Sales and Use Tax on this income either through your management company or direct with the relevant authorities. If you choose to deal directly, you can make application to the Florida Department of Revenue to set up your account, alternatively we will prepare and file the application on your behalf to set up your account and assist with the initial filings.
Filing Deadline
Unless otherwise advised, Sales & Use Tax Returns must be completed monthly and submitted to the Department of Revenue along with your tax payment by the 20th of the month following the reporting month. Thus rental income received during July should be reported and tax paid by 20th August. A $50 penalty is payable for any late filing (even where there was no income received) and interest is calculated on any late tax payment.
Voluntary Disclosure - Reporting and filing of previously unpaid Sales & Use Tax