Florida Statutes 198.03 – Tax upon estates of nonresident decedents
Current as of: 2023 | Check for updates
|
Other versions
Terms Used In Florida Statutes 198.03
- Intangible personal property: means incorporeal personal property including deposits in banks, negotiable instruments, mortgages, debts, receivables, shares of stock, bonds, notes, credits, evidences of an interest in property, evidences of debt and choses in action generally. See Florida Statutes 198.01
- Legacy: A gift of property made by will.
- Person: means persons, corporations, associations, joint stock companies, and business trusts. See Florida Statutes 198.01
- Personal property: All property that is not real property.
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
- Resident: means a natural person domiciled in the state. See Florida Statutes 198.01
- United States: when used in a geographical sense includes only the 50 states and the District of Columbia. See Florida Statutes 198.01
A tax is imposed upon the transfer of real property situate in this state, upon tangible personal property having an actual situs in this state, upon intangible personal property having a business situs in this state and upon stocks, bonds, debentures, notes, and other securities or obligations of corporations organized under the laws of this state, of every person who at the time of death was not a resident of this state but was a resident of the United States, the amount of which shall be a sum equal to such proportion of the amount of the credit allowable under the applicable federal revenue act for estate, inheritance, legacy, and succession taxes actually paid to the several states, as the value of the property taxable in this state bears to the value of the entire gross estate wherever situate.