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Bill of Sale
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Simple Bill of Sale for Personal Property Used in Connection with...

Personal Property Business Form For Ias Officers In Miami-Dade

Q: What is considered personal property in Florida?

Florida Statute defines TPP as all goods, chattels, and other articles of value (but does not include vehicular items) capable of manual possession and whose chief value is intrinsic to the article itself.

Category:

Bills of Sale - Businesses

State:

Multi-State

County:

Miami-Dade

Control #:

US-00167

Format:

Instant download

Description

The Personal Property Business Form for IAS Officers in Miami-Dade serves as a Bill of Sale for the sale of personal property associated with a business transaction. This document allows sellers to legally transfer ownership of furniture, equipment, inventory, and supplies while ensuring the purchaser accepts the property in 'as is' condition, thus mitigating liability for the seller. Key features include sections for detailing the sale amount, the names of the seller and purchaser, and an acknowledgment by a notary public to validate the authenticity of the transaction. To fill out the form, users should provide information such as the sale amount, the specific goods being sold, and personal details of both parties involved. This form is particularly useful for attorneys, partners, owners, associates, paralegals, and legal assistants involved in business sales, as it provides a clear and legally binding record of the transaction. Additionally, it ensures that all claims and offsets against the property are addressed, providing peace of mind for both parties. For best practices, users are advised to maintain copies of the completed form for their records and ensure all information is accurate to avoid future disputes.

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FAQ

A taxpayer may be waived from filing the Tangible Personal Property Tax Return (DR-405) if: The prior year value was less than $25,000. The current value remains less than $25,000 (i.e. no new purchases over the past year).

Florida Tangible Personal Property Tax Tangible Personal Property Tax is an ad valorem tax assessed against the furniture, fixtures and equipment located in businesses and rental property. Ad valorem is a Latin phrase meaning “ing to worth”.

Tangible personal property can be subject to ad valorem taxes, meaning the amount of tax payable depends on each item's fair market value. In most states, a business that owned tangible property on January 1 must file a tax return form with the property appraisal office no later than April 1 in the same year.

Yes, since you were still in business on January 1, you are required to file a tangible personal property tax return. Report all business tangible personal property as of January 1.

WHICH STATES DO NOT TAX BUSINESS PERSONAL PROPERTY? North Dakota. South Dakota. Ohio. Pennsylvania. New Jersey. New York. New Hampshire. Hawaii.

In any year the assessed value of your tangible personal property exceeds $25,000, you are required to file a return. Taxpayers who lease, lend or rent property must also file a return.

Homestead Exemption: Every person who has legal or equitable title to real property in the State of Florida and who resides thereon and in good faith makes it his or her permanent home is eligible to receive a homestead exemption of up to $50,000. The first $25,000 applies to all property taxes.

Each TPP tax return is eligible for an exemption up to $25,000 of assessed value. If the property appraiser has determined that the property has separate and distinct owners and each files a return, each may receive a $25,000 exemption.

Florida Statute defines TPP as “all goods, chattels, and other articles of value (but does not include vehicular items) capable of manual possession and whose chief value is intrinsic to the article itself.”

Every Florida resident who has been certified by one (1) Florida licensed physician as being totally and permanently disabled as of January 1, but not requiring the use of a wheelchair for mobility, can qualify for a $5,000 (Effective January 1, 2023) Disability Exemption on the assessed value of the property.