Discussion:Florida Intangible Tax
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Discussion Forum Index --> Tax Questions --> Florida Intangible Tax
| 8 December 2005 | |
| What is everyone's feeling (or fact-finding) on the future of the Florida Intangibles Tax?
I currently have a client that the attorneys set up a Florida family LP, to which equities will be contributed. so, the Florida LP itself will be subject to FLIT. The problem is, the main contributor to the LP is contributing assets that in past years was moved to a FL Intangible Trust to get around the Intangibles Tax. So, it seems pointless for the attorneys to have created a FL entity for this that will be subject to the Intangibles Tax when they were avoiding it to begin with. If most feel (as do the attorneys) that the FLIT will be repealed (since it was just cut in half for 2006), then there is no sense in reorganizing in another state. | |
