March 22, 1989
TO: INVESTMENT ADVISER MEMBERS NO. 25-89
INVESTMENT ADVISER ASSOCIATE MEMBERS NO. 24-89
RE: FLORIDA BILL TO REVISE INTANGIBLES TAX
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The attached bill was recently introduced in the Florida
legislature to revise that State's intangibles tax.
Specifically, the bill would require that an intangibles tax
return be filed by every person regardless of domicile who (on
January 1) owns or has control or management of intangible
personal property having a "taxable situs" in the State. Taxable
situs is defined with the intention of requiring nonresidents
transacting business in Florida to pay the same Florida tax paid
by residents transacting business in Florida.
We will keep you informed of developments.
Keith D. Lawson
Assistant General Counsel