1998 Florida Code
TITLE XIV TAXATION AND FINANCE
Chapter 199 Intangible Personal Property Taxes
PART I GENERAL PROVISIONS (ss. 199.012-199.106)
199.033 Securities in a Florida's Future Investment Fund; tax rate.
199.033 Securities in a Florida's Future Investment Fund; tax rate.--
(1) Notwithstanding the provisions of this chapter, the tax imposed under s. 199.032 on securities in a Florida's Future Investment Fund shall apply at the rate of 1.85 mills when the average daily balance in such funds exceeds $2 billion and at the rate of 1.70 mills when the average daily balance in such funds exceeds $5 billion.
(2) This section shall not apply in any year in which the revenues of the foundation in the previous calendar year are less than the tax savings allowed by this section. "Tax savings" means the difference between the tax that would be imposed pursuant to s. 199.032 and the tax rate specified in subsection (1).
History.--s. 2, ch. 97-188.
Disclaimer: These codes may not be the most recent version. Florida may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
