• Domicile is a question of intent
• The fact that one has lived in Florida for more than 6 months does not necessarily make one a resident of FL
• Declaration of domicile
• States that you reside in Florida
• Signed and notarized
• Filed with the clerk of court of the county of residence

www.floridadomicile.com

1. What is intangible personal property?
Intangible personal property is anything that has value because of what it represents. The most common taxable examples are stocks, shares or units of a mutual fund including money market funds, Interest in limited partnerships registered with the Securities and Exchange Commission, bonds, loans, notes, and taxable accounts receivables

2. What is intangible personal property tax? Intangible tax is an ad valorem tax on the current market value, as of January 1, of intangible personal property owned, managed, or controlled by persons residing or doing business in Florida. Unlike federal income tax, intangible tax applies to the calendar year in which it is paid.

5. Who is liable to pay intangible tax? Residents of Florida, partnerships, affiliated groups, corporations, trustees, and fiduciaries who have tax situs in Florida with a tax liability of $60,000.00 or more are liable.

What is the intangible tax rate? Currently the tax rate is $1.00 per $1,000 of fair market value of intangible assets. For an individual, the first $250,000 (or $500,000 for a married couple filing jointly) is exempt from the tax. Florida law also provides a number of other exemptions such as an exemption for property owned by a charity. No tax return needs to be filed (or tax paid) if the tax liability is $59,999.00 or less. Example 1 – Individual having total taxable assets valued at $500,000 (Column A).

Example 2 – Married Couple having total taxable assets valued at $1,000,000

(Column B).

	Example 1	Example 3
Filing Status (Step 1) Taxable Assets are:	Column A Individual	Column B Joint
1. Taxable Assets (Step 2)	$500,000	1,000,000
2. Times Tax Rate	X .001	X .001
3. Gross Tax (Step 3) (multiply line 1 by 2)	$500.00	$1,000.00
4. Less Exemption	($250.00)	($500.00)
5. Total Tax Due (Step) (subtract line 4 from line 3)	$250.00	$500.00

*This table is for estimates only. Please ask your CPA for specific information

When is the intangible tax due? The tax is due on or before June 30 for the assessed value of the asset on January 1 of the current year. A discount for early filing is available provided payment is postmarked on or before the last day of one of the following filing periods:

January 1 – February 28	4% Discount
March 1 – March 31	3% Discount
April 1 – April 30	2% Discount
May 1 – May 31	1% Discount
June 1 – June 30	No Discount

Which stocks, bonds, trusts and mutual or money market funds are taxable?

Stocks owned by Florida residents (including partnerships, affiliated groups, corporations, trustees, and fiduciaries) are taxable regardless of the issuing corporation’s location or physical location of the stock certificates.

Bonds of domestic and foreign corporations, other states and foreign nations are taxable. Certain other bonds are exempt.

Trusts are taxable when they have situs in Florida, which is created if the trustee or trust beneficiary with a taxable beneficial interest is a Florida resident. Revocable trusts may also have situs when the grantor has situs. (The key to the taxability of trusts is who has control over the trust and where those people are located.) Only the portion of the trust property invested in taxable intangible assets is subject to tax. Depending upon the circumstances creating situs and the amount of situs created, the taxable intangible assets may only be partially includable. Trust property may be reported by the trustee and/or the beneficiaries as long as the total taxable amount is reported.

Mutual funds and money market funds are also subject to Florida intangible tax. How the mutual fund or money market fund is organized as a business determines how the fund is valued for intangible tax purposes.

Incorporated funds are fully taxable regardless of the kinds of assets contained within the fund. Shares of funds organized as a business trust are also subject to intangible tax, but the value of the shares may be prorated according to the following guidelines:

• If the fund’s portfolio of assets is exclusively U.S. government securities, the shares of the fund are exempt from intangible tax.
• If the fund’s portfolio of assets is exclusively Florida government securities, the shares of the fund are exempt from intangible tax.
• If the fund’s portfolio of assets is a combination of U.S. and Florida government securities or other exempt securities, the shares of the fund are exempt from intangible tax.
• If the fund’s portfolio of assets is a combination of U.S. government securities, Florida government securities and other securities such as stocks or securities issued by a state other than Florida, only the value of the U.S. government securities may be proportionately removed from the total net asset value of the fund’s shares.
• If the fund’s portfolio of assets is securities that are not exempt from intangible tax, the entire net asset value of the fund’s shares are taxable.

What is the difference between a money market account and a money market

fund?

A money market fund is organized as a corporation or business trust and issues shares or units of investment. In a corporate form, the investor becomes an owner of the corporation. In the trust type, the investor participates in the ownership of the trust’s assets with other investors. In essence, an investment in a money market fund is an equity investment and therefore taxable.

With a money market account, the investor is merely depositing cash with a financial institution in exchange for a money market interest rate. Shares or units of beneficial ownership are now acquired as with a fund. Also, the deposit is generally insured through the F.D.I.C. or F.C.I.C. (credit union deposit insurance). Since the account represents cash, it is not taxable.

. Where are the year-end prices for certain stocks and bonds found? Many newspapers publish year-end values for securities listed on major exchanges in the business section of their year-end edition, which may be found in your local library. Another good source is the Wall Street Journal. For bonds that are not regularly traded (most commonly, municipal bonds) the Department will accept the face value as a reasonable value, if a better value is not available

How do I value restricted stock? There is no blanket method for valuing restricted stock. It may be valued at less than full value based upon the facts and circumstances creating the restrictions. You should review the facts and circumstances of each case and apply Generally Accepted Methods of Valuation to determine the proper value.

How do I value shares of stock that are closely held or are not regularly traded over the counter? Book value alone is not an acceptable method of valuing closely-held stock for intangible tax purposes. Rule 12C-2.010(1)(c), Florida Administrative Code, lists some acceptable valuation techniques as well as several other factors that must be considered when determining a market value for these securities. Internal Revenue Ruling 59-60 also details some methods the Florida Department of Revenue has found acceptable.

What property is exempt from the intangible tax?

The following types of intangible property are exempt from taxation:

• Money – this includes cash on hand and in the bank, certificates of deposit (CD), annuities and similar instruments.
• Units of a registered investment company that is organized under an indenture of trust (unit investment trust or Massachusetts-type business trust) are exempt on that portion of their net asset value attributable to U.S. government debt obligations contained in the year-end portfolio. If a fund is incorporated, the entire fund is taxable.  (See Question 11.)
• All intangible property held in an employee retirement plan qualified under Section 401, United States Internal Revenue Code, as amended.
• All intangible property held in an Individual Retirement Account (IRA) qualified under Sections 408, 408A (Roth IRA) and 530 (Education IRA), United States Internal Revenue Code, as amended.
• All intangible property held in a deferred compensation plan that is offered to government employees and qualified under Section 457, United States Internal Revenue Code, as amended.
• Interest in a general partnership.
• Interest in limited partnerships not registered with the Securities and Exchange Commission.
• Franchises.
• Bonds, notes and other obligations issued by the State of Florida, its counties, municipalities, or other taxing districts, and the U.S. government and its agencies, territories and possessions.
• Notes and mortgages, except bonds, to the extent secured by a lien on real property located inside or outside Florida.
• Real estate mortgage investment conduits (REMIC’s) and financial asset securitization trusts (FASIT’s) secured by mortgage.
• Accounts Receivable – Effective taxable year 1999, one-third (1/3) of accounts receivable are exempt

How to legally avoid the tax? Essentially, you can transfer your taxable intangible assets to a short-term irrevocable trust located outside of Florida (Flite Trust) to avoid the tax. This trust is designed to meet certain “safe-harbor” provisions recently established as administrative rules by the Florida Department of Revenue. Yes, believe it or not, the Florida Department of Revenue actually created these rules in an effort to provide you with rules on how to design and operate the Flite Trust to legally avoid the tax. Our government is providing us with a means of legally avoiding the tax.

Who are the parties to the Flite Trust agreement? The Flite Trust must be in irrevocable trust agreement between you, as settlor, and another person as trustee. The fact that the Flite Trust must be irrevocable means that you may not have the power to revoke, amend or otherwise change the provisions of the trust. According to the rules, despite your rights to income and principal as discussed below, you will not be subject to the tax.

What are your rights to income and principal? You will be able to receive so much of the trust income and principal, as the trustee considers advisable for your health, maintenance and reasonable comfort and best interest. Generally, you are the only beneficiary of the trust during your lifetime. Accordingly, the trustee will most likely distribute income that you will need based upon your normal circumstances.

How long must the assets remain in the Flite Trust? In order for the Flite Trust to be considered a bona fide trust and not an illusory trust, the term should last for a period sufficient to establish that the trustee owned, managed and controlled the assets over the period which includes January 1 of each year. Many planners rise time periods varying from one month to about three months. Three months is the typical length of time, but circumstances may dictate a longer or shorter time frame.

Who may be trustee of the Flite Trust? In order to achieve tax benefits, the trustee of the Flite Trust must not be a Florida resident. This means that the trustee may be an individual who resides outside the state of Florida or corporate fiduciary that does not conduct business in Florida. Alternatively, a corporate fiduciary from an out-of-state banking institution may serve as trustee, provided, however, such corporation does not conduct business in Florida. Many local corporate fiduciaries have related offices in another state, which are separate entities and will qualify to act as trustee.

Can a partnership or corporation use a Flite Trust? Good question. Although not commonly known, the new safe harbor rules were designed not only for trusts and individuals, but they apply evenly to corporations, partnerships, limited liability companies and the like. It appears that the trust, if properly structured, would allow business entities that have paid the tax in the past to legally avoid the tax.

Once the Flite Trust is created, what must I do? Each year, towards the end of the year, typically sometime between the middle of October to the middle of December, you must transfer your taxable intangible assets to the Flite Trust. Typically, you will simply need to send a letter to your stock broker, trust company or other financial institution instructing them to transfer your assets from your account to the Flite Trust account. Three months after the transfer, the trustee will transfer the assets back to you. You should repeat this on an annual basis. You should note that this process is one that you can normally accomplish yourself; typically, on an annual basis it requires little or no attorney time, unless you own certain closely-held stock or other troublesome assets to transfer.

Who benefits from a Flite Trust? A properly structured and administered Flite Trust allows potential taxpayers to legally avoid the tax. This trust may also be used in conjunction with partnerships and corporations to legally avoid the tax. If you are currently paying in excess of $2,500 of intangible tax, the Flite Trust may be the trust for you.

DECLARATION OF DOMICILE

To the Clerk of the Circuit Court of Collier County. This is my DECLARATION OF DOMICILE in the STATE OF FLORIDA that I am filing this day in accordance and in conformity with Florida Statute Section 222.17.

I hereby declare that I reside in and maintain a place of abode at:

___________________________________________________
Street and Number
_______________________________________ ,	FLORIDA	_________
City and County		Zip Code
Which place of abode I recognize and intend to maintain as my permanent home and, if I maintain another place or places of abode in some other state or states, I hereby declare that my above-described residence and abode in the State of Florida constitutes my predominant and principal home, and I intend to continue it permanently as such. If, at the time of making this declaration, a bona fide resident of the State of Florida.
I formerly resided at:

_________________________________________________________________

Street and Number

__________________________________________________________________

City, County, State and Zip Code

And the place or places where I maintain another or other place or places of abode are as follows: (In the space below list street address, city, county and state of any other place or places of abode.)
	_______________________________________
	Signature
	_______________________________________
	Print Name
State of Florida County of Collier
Sworn to and subscribed before me this ______ day of _____________, _______ by the above named, who is personally known to me or has produced the following type of ID:
	DWIGHT E. BROCK Clerk of the Circuit Court
___________________________________	_______________________________________
Signature of Notary	Signature of Deputy Clerk
___________________________________	_______________________________________
Print, Type or Stamp Commissioned Name	Print, Type or Stamp Deputy Clerk Name
Commission Number: Commission Expires:
(SEAL)

Just moved to Florida and need to get a driver license and your car registered?

Here’s what to do:

• If you have an out-of-state license, and it has not expired beyond 30 days, you may be able to convert your license without taking a written or road test. You will need to have a vision screening. Please call your local driver license office and schedule an appointment. Obtain vehicle insurance from a company licensed to do business in Florida–in other words, visit a Florida insurance agent. Take your proof of Florida insurance; your original out of state title and verification of the motor vehicle’s *vehicle identification number (VIN), completed on form HSMV 82040 or HSMV 82042 (available on our website), to your local Florida county tax collector’s office.

VIN verification is required for all USED motor vehicles not currently titled in Florida, including trailers with a weight of 2,000 pounds or more.

*The VIN must be verified by one of the following:

• A law enforcement officer from any state.
• A licensed Florida or out of state motor vehicle dealer. NOTE: If the VIN is verified by an out of state motor vehicle dealer, the verification must be submitted on their letterhead stationary.
• A Florida DMV Compliance Examiner/Inspector, DMV or tax collector employee.
• A notary public commissioned by the state of Florida.
• Provost Marshal (an officer who supervises the military police of a command) or a commissioned officer in active military service, with a rank of 2nd lieutenant or higher or an LNC, “Legalman, Chief Petty Officer, E-7″.

If the out of state title is currently in the possession of an out of state lienholder, the tax collector’s office will assist you in contacting the lienholder to obtain the title. The lien will be recorded on the Florida title when issued and will be mailed to the lienholder.

Sales

tax information for the motor vehicle.

• If the motor vehicle was purchased six months or more prior to the time it was brought into this state, it is not subject to the six percent Florida sales or use tax or local discretionary sales surtax. Documentary evidence must be shown that the motor vehicle or mobile home was used for six months or more in such jurisdiction.
• If the motor vehicle was purchased and used less than six months in another state, territory of the United States or the District of Columbia, the full amount of the six percent Florida sales or use tax and local discretionary sales surtax is required to be paid before title and license plate can be issued by the department.
• However, a credit is allowed for a like tax paid in another state, territory of the United States or the District of Columbia, against the amount of Florida sales or use tax and local discretionary sales surtax. For credit allowed, ONE of the following would apply:

• • If the credit is equal to or greater than the amount imposed by this state, no additional tax is due.
  • If the credit is less than the amount imposed by this state, only the difference between the two would be due.

Who Needs One?

1. If you live in Florida and want to drive a motor vehicle on public streets and highways.
2. If you move to Florida and have a valid license from another state, you must get a Florida license within 30 days of becoming a resident. You are considered a resident of Florida if you:
   • enroll your children in public school, or
   • register to vote, or
   • file for a homestead exemption, or
   • accept employment, or
   • reside in Florida for more than six consecutive months.

Who Does Not Need One?

The following persons may drive in Florida without having a Florida driver license if they have a valid license from another state or country:

• Any non-resident who is at least 16 years old.
• Persons employed by the United States Government driving a United States Government motor vehicle on official business.
• Any non-resident working for a firm on a contract for the United States Government. (This exemption is only for 60 days.)
• Any non-resident attending college in Florida.
• Persons who drive only vehicles like farm tractors or road machines temporarily on the highway may drive without a license.
• A licensed driver who lives in another state and travels regularly between his home and work in Florida.
• Non-resident migrant farm workers even though they are employed or place children in the public schools, providing they have a valid license fromtheir home state.
• Members of the Armed Forces stationed in Florida and their dependents, with these exceptions:
  1. Service member or spouse claims homestead exemption (All drivers in family must obtain Florida licenses),
  2. Service member becomes employed (All drivers in family must obtain Florida licenses),
  3. Spouse becomes employed (Spouse and children who drive must obtain Florida licenses),
  4. Child becomes employed (Only employed child who drives must obtain Florida license).

State law requires identification, proof of date of birth and social security number from all customers before a driver license or identification card can be issued. Each application for an original driver license or identification card MUST submit the original or certified copy of one of the first five documents, unless a driver’s license record or identification card record has already been established:

PRIMARY IDENTIFICATION

1. United States birth certificate, including U.S. territories and District of Columbia.
2. Valid United States passport (not expired)
3. Alien Registration receipt card, (Green card, Form I-151)
4. Employment authorization card issued by the United States Department of Justice (Form I688b)
5. Proof of nonimmigrant classification provided by United States Department of Justice (Form I94 not expired, or certificate of naturalization)

In addition, a secondary identification document, which substantiates the primary document, is required. Document may include, but not limited to, the original or certified copy of one of the following:

SECONDARY IDENTIFICATION

6. School record stating date of birth, which must contain the registrar’s signature.
7. Transcript of the birth record filed with a public officer charged with the duty of recording certificates.
8. Baptism certificate, which shows date of birth and the place of baptism.
9. An insurance policy on the customers life which has been in force for at least two years and which has the month, day and year of birth.
10. A military or military dependent identification card.
11. Florida or another state driver license, valid or expired (may also serve as a primary item).
12. Florida license record or identification card record (may also serve as a primary item).
13. Selective Service Registration (Draft Card).
14. Florida Vehicle Registration certificate (HSMV 83399, owner’s copy) obtained from the tax collector’s office where the customer’s vehicle was registered, Florida, or out-of-state registration certificate, if name and date of birth are shown.
15. Florida and another state non-driver identification cards (may also serve as a primary item).
16. Receipt copy of your last Florida driver license issuance.
17. Immigration form I-571.
18. Federal form DD-214 (military record)
19. Marriage certificate
20. Court order, which includes legal name.
21. A Florida voter registration card which was issued at least three months previously.
22. Personal identification by an examiner or by a person well known to the examiner.
23. Social Security Card.
24. Family bible record or birth announcement in baby book.
25. Parent Consent Form (HSMV 71022)
26. Out-of-country driver license or identification car, government issued.

If you have legally changed your name by marriage or court order, you must submit the original or a certified copy of your marriage certificate or court order. No photocopies will be accepted unless certified by the issuing authority.

A secondary identification from the above list is required. The Social Security Number (if issued) MUST be included on the application for a driver’s license or identification card.

You must list any physical or mental problems on your license application which might affect your driving. Many of the physical problems can be handled by placing restrictions on your license. If you have epilepsy, fainting spells, dizziness, blackouts or any other medical condition that could impair your driving, you may be asked to have your doctor complete a medical report form. These forms may be requested through your local driver licenses office and will be mailed directly to you. The report must be completed by your doctor and submitted to the Department before a license can be issued. If you are diabetic, and use insulin, you may request that it be indicated on your license.

You must obtain a new license showing your new address within 10 days of the change. You may change the address on your driver license or ID card by:

1. Using your home touch-tone telephone and calling 1-800-448-1002. There is a $2.90 service fee plus the $10 license fee.
2. By mail being sure to include your name, new address, driver license number, and date of birth. Mail to Division of Driver Licenses, Mail Stop 92, Post Office Box 5775, Tallahassee, Florida 32314-5775. Include a $10 check or money order payable to DHSMV. You will receive the appropriate corrections by mail. Allow 30 days for processing.
3. Visiting your local driver license office.
4. Internet at http://express.hsmv.state.fl.us. There is a $3 service fee plus the $10 license fee.
5. Florida law requires that you destroy your old license when you receive the new license.

Before you renew your license, your driving record is checked. If you have had no convictions for driving violations in the past three years, or suspension/revocation/disqualification free record for the past seven years, you will be issued a six-year license. You may also be asked to take other parts of the test if:

1. The examiner has a reason to question your driving skill.
2. Your license may not be renewed if:
   1. You are not qualified to receive a license.
   2. You did not answer a summons, which involved a traffic violation.
   3. Your driver license is suspended or revoked or canceled.

Drivers may renew through the mail for two consecutive license expirations. You may receive a mail-in renewal packet approximately 30 days prior to license expiration. There are no additional fees for renewing by mail. Your can renew by internet at http://express.hsmv.state.fl.us. There is a $3 service charge in addition to the renewal fee. After you return your payment, you will receive a four or six-year renewal sticker to be placed on the back of your current license. Drivers with a digital license will receive a new license. Drivers with a digital license will receive a new license. Florida law requires that you destroy your old driver license after receiving the new license.

Initial License Fee for first Florida license, any type except commercial driver licenses

$ 20

http://election.dos.state.fl.us/

The online Florida Voter Registration Application Form can be used to begin the process to:

• Register to vote in the State of Florida.
• Change your name or address.
• Replace your defaced, lost, or stolen registration identification card.
• Register with a political party or change party affiliation.
• Update your signature.

Notice: In order to register to vote in Florida, a citizen must swear or affirm an oath and sign the voter registration application form. The online PDF form begins the registration process. If your application is complete and you qualify as a voter, the Supervisor of Elections will mail you a registration identification card as official notification of your registration. If you have any questions, call your county Supervisor of Elections office.

To Register You Must:

• Be a U.S. citizen.
• Be a Florida resident.
• Be 18 years old (you may pre-register if you are 17).
• Not now be adjudicated mentally incapacitated with respect to voting in Florida or any other state.
• Not have been convicted of a felony without your civil rights having been restored pursuant to law.
• Not claim the right to vote in another county or state.
• Submit your valid Florida driver’s license number or Florida identification card number. If you do not have either of these, you must provide the last four digits of your Social Security number.

Deadline Information The registration books will be closed on the 29th day before each election and will remain closed until after that election. You must be registered for at least 29 days before you can vote in an election. If this is a “new registration”, the date a signed voter registration application is postmarked or hand delivered to your county supervisor of elections office will be your registration date. If your signed application is complete and you are qualified as a voter, a registration identification card will be mailed to you.

Dates Registration Closes for 2004 Election
Presidential Preference Primary……… February 9, 2004
Primary Election ………………………… August 2, 2004
General Election ………………………… October 4, 2004

Please follow these instructions to complete your application:

• Fill in this PDF form online, or print the form and then write in the information.
• Verify all information on your application.
• Sign your application.
• Mail the completed, signed application in a stamped envelope using a 37 cent first class stamp.
• Mail the application to your county Supervisor of Elections using the addresses provided here.

If your application is complete and you qualify as a voter, the Supervisor of Elections will mail you a registration identification card as official notification of your registration. Please call your county Supervisor of Elections if you have not received your card within eight weeks, or if you have any questions.