Florida Tangible Tax Return Exemption

As a general rule, in the State of Florida taxpayers must file tangible personal property tax returns with the state each tax year.[1] It is incumbent on the taxpayer to “disclose and claim any … exemptions from taxation to which the taxpayer may be entitled …”[2] Failure to do so may result in the taxpayer waiving his or her right to any exceptions for the relevant tax year.[3]

However, the exemption provided under §196.183 of the Florida Statutes for the first $25,000 of assessed tangible personal property value,[4] waives the general rule as it relates to the property exempted under that section.[5] Therefore, a taxpayer does not need to file an annual tangible personal property tax return with respect to personal property not exceeding $25,000 so long as the taxpayer filed an initial return claiming the exemption.[6]

A taxpayer must file an annual tangible personal property tax return when the taxpayer possess property with an assessed value in excess of the exemption amount and failure to make the initial filing required under the relevant section precludes the taxpayer from claiming the benefit of this exception from filing provision.



[1] § 196.021, Fla. Stat. (2018).

[2] Id.

[3] Id.

[4] § 196.183(1), Fla. Stat.

[5] Id. at (3).

[6] Id. (expressly providing an exemption from the filing requirements under the section).