1998 Florida Code
TITLE XIV TAXATION AND FINANCE
Chapter 199 Intangible Personal Property Taxes
PART I GENERAL PROVISIONS (ss. 199.012-199.106)
199.057 Corporate election to pay stockholders' annual tax.
199.057 Corporate election to pay stockholders' annual tax.--
(1) Every corporation incorporated or qualified to do business in this state may elect each tax year to pay the annual tax on any class of its stock, as agent for its Florida stockholders holding such stock.
(2) To make the election, the corporation shall:
(a) File written notice with the department on or before June 30 of the year for which the election is made.
(b) File an annual return with respect to such stock and its own intangible personal property.
(c) Furnish its Florida stockholders with written notice, on or before April 1 of the year for which the election is made, that the election is being made, including a description of the class or classes of stock which are affected. An electing corporation shall certify on its notice to the department that its stockholders were timely notified of the election.
(3) No election shall be valid unless timely notice is given to the department under paragraph (2)(a). Once made, an election may not be amended or revoked, and it is binding for the tax year.
History.--s. 5, ch. 85-342.
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