TAX SEASON 2023
Form
DR405
SECOND DUE DATE:
October 16, 2023
If you do business in Florida, you must file a Florida Tangible Personal Property Tax Return (DR-405). Your county tax collector determines
the amount paid for the Tangible Personal Property (DR-405), which comes from certain fixed assets you own.
You may not have to pay anything after filing because there is an exemption for the first $25,000 of fixed assets. But that does not exempt
you from the obligation to file the form. And the second due date for the presentation of the DR405 is October 16, 2023.
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Who has to file a declaration of tangible personal property in Florida?
You must file a declaration of tangible personal property if you own a business in Florida. Even if your company is not registered as a legal
entity (LLC, Corp, Etc), you may still need to file a TPP. You need to file a TPP for each location where you do business, even if they are in the
same county. It also includes business owners who work from home.
If your county property appraiser determines that you have less than $25,000 in tangible personal property, you don’t have to pay
any tax. If you still have less than $25,000 in fixed assets for future years, you don’t have to file another return. You will receive a filing waiver
for coming years that will allow you to skip filing as long as you are below that threshold. But it is very important to review the evolution of
your fixed assets every year.
To file the return on your behalf, we will need you to provide us with the following information:
⢠Additions of fixed assets for the year 2022. (Copy of the purchase invoice)
⢠Disposal of fixed assets for the year 2022. (Copy of the sales invoice, if any.)
⢠Address where your fixed assets are located.
Contact us if you require additional information.
