Florida Administrative Code
12 - DEPARTMENT OF REVENUE
12C - Corporate, Estate and Intangible Tax
Chapter 12C-2 - INTANGIBLE PERSONAL PROPERTY TAX
Section 12C-2.007 - Penalties and Interest

(1) Delinquent Penalty. A delinquent penalty of 10 percent of the tax due, per month or portion of a month, will accrue on the governmental leasehold estates intangible tax and the nonrecurring intangible tax that is not paid on or before the due date. The delinquent penalty will not exceed 50 percent of the tax due.

(2) Late Filing Penalty. A late filing penalty of 10 percent of the tax due, per month or portion of a month, will accrue on governmental leasehold estates intangible tax returns not filed on or before the due date. The late filing penalty will not exceed 50 percent of the tax due.

(3) The combined penalties provided in subsections (1) and (2) will not exceed 10 percent of the tax due per month, or portion of a month, and is limited to 50 percent of the tax due.

(4) Undervaluation Penalty. Governmental leasehold estate property which has been reported at an amount less than market value is subject to a specific undervaluation penalty of 10 percent of the tax due attributed to the undervaluation.

(5)