Florida Regulations 12-10.008: Administration
Current as of: 2024 | Check for updates
|
Other versions
(1) The department will receive funds pursuant to Section 206.605(1) (8th cent motor fuel), Section 210.20(2) (cigarette tax), and Florida Statutes § 199.292(3) (intangible tax); and deposit same to the respective revenue sharing trust funds. Based upon the estimated funds available and the calculation of the apportionment factors, the department will establish a schedule of equal monthly payments to be made by the 25th day of each month.
(2) The department shall compute the apportionment factors based upon information submitted and certified to the department prior to June 1 preceding the beginning of the state fiscal year. The apportionment factors will remain in effect for that fiscal year, except in case of error, or where a special act of the Legislature authorizes participation for a new municipality during the fiscal year.
(3) The apportionment factor for a municipality whose area is coincident with the area of more than one county shall be calculated as follows:
(a) For purposes of the population weight factor, the population of the municipality will be the total population within the municipal boundaries.
(b) The nonexempt assessed real and personal property will be calculated as the sum of the assessed values within the municipal boundaries contained within each county in which the municipality is located.
(c) The sales tax collection factor will be the sum of each of the partial sales tax collection factors calculated for each portion of the municipality contained within a different county. The partial sales tax allocation factor, for each portion of the municipality within a different county, will be calculated as the municipal population contained within that county divided by the total population of that county, multiplied by the county sales tax collections. The partial sales tax allocation factors are then divided by the total sales tax collected within all the eligible municipalities in the state. The partial tax collection factors, derived for each portion of the municipality contained within a different county, as summed to determine the sales tax collection factor of the municipality.
Rulemaking Authority Florida Statutes § 218.26(1). Law Implemented 218.21, 218.215, 218.23, 218.245, 218.25, 218.26 FS. History-New 3-8-82, Formerly 12-10.08, Amended 11-1-98, 1-11-16.
Terms Used In Florida Regulations 12-10.008
- Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
- Personal property: All property that is not real property.
(3) The apportionment factor for a municipality whose area is coincident with the area of more than one county shall be calculated as follows:
(a) For purposes of the population weight factor, the population of the municipality will be the total population within the municipal boundaries.
(b) The nonexempt assessed real and personal property will be calculated as the sum of the assessed values within the municipal boundaries contained within each county in which the municipality is located.
(c) The sales tax collection factor will be the sum of each of the partial sales tax collection factors calculated for each portion of the municipality contained within a different county. The partial sales tax allocation factor, for each portion of the municipality within a different county, will be calculated as the municipal population contained within that county divided by the total population of that county, multiplied by the county sales tax collections. The partial sales tax allocation factors are then divided by the total sales tax collected within all the eligible municipalities in the state. The partial tax collection factors, derived for each portion of the municipality contained within a different county, as summed to determine the sales tax collection factor of the municipality.
Rulemaking Authority Florida Statutes § 218.26(1). Law Implemented 218.21, 218.215, 218.23, 218.245, 218.25, 218.26 FS. History-New 3-8-82, Formerly 12-10.08, Amended 11-1-98, 1-11-16.