Taxes
Income Tax
Filed annually to the Internal Revenue Service (IRS) due by June 15th
(for most non-resident homeowners).
Capital Gains Tax
Payable on the net gain of your property to the IRS. Defer Capital Gains Tax by using 1031 Exchange.
FIRPTA Withholding (10% of gross sale price of property).
Tangible Personal Property Tax
Tax return filed annually to the Property Appraiser’s Office (in the
County where the rental property is located), due by April 1st – late filing
penalties effective after this date. Tax bills are mailed out on
or before November 1st each year. Payment is due by March 31st
with discounts available for early payment. A $25,000 exemption is
available effective January 1st, 2008.
Property / Real Estate Tax
Payable annually to the Tax Collectors Office (in the County where the property is located).
Tax bills are mailed out on or before November 1st each year. Payment is due by
March 31st with discounts
available for early payment.
Sales Tax
Filed monthly to the Florida Department of Revenue (DOR), due by 1st
of month; late filing penalties effective after 20th of month.
Tourist Development Tax
Filed monthly to the Tax Collector’s Office (in the County where
your property is located), due by 1st of month; late filing penalties
effective after 20th of month.
Local Business Tax or Occupational License Tax
Required by homeowners who rent their US property and receive rental
payments directly. Paid annually to the Tax Collectors Office (in the County where the rental property is located).