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Deadline for intangibles tax approaches

Friday is the deadline for filing this year's Florida intangible tax return, and the state says it is on the lookout for investors who should be filing but don't.

The tax is based on the Jan. 1 value of stocks, bonds and mutual funds, including money market funds. It does not apply to bank or credit union accounts, insurance or retirement plan investments, U.S. government bonds, Florida tax-exempt bonds or mutual funds that invest solely in Florida bonds.

The tax is $1 per $1,000 for assets between $20,000 and $100,000 ($40,000 and $200,000 for a couple) and $2 per $1,000 for anything above that. Those who owe less than $5 in tax do not have to file a return.

The Florida Department of Revenue attempts to track down non-filers using information supplied by the Internal Revenue Service and by brokerage firms. It also checks homestead exemption certificates, voter registration and driver's license records to determine whether investors are Florida residents.

For more information, call the department at (800) 352-3671.

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