Tax Info

On completion of your new home there will be an annual property tax, a rough yardstick is to multiply the living sq Footage by $1.35.

If you intend to rent the property it is then deemed to be a business and the tax requirements are: (please bear in mind that we assist with all the necessary forms etc)

  1. You have to apply for a TIN (tax identification number), as you have to file a U.S tax return each year
  2. You have to apply for a sales tax number from The State of Florida and from Charlotte County Tax collector. (The sales tax charged on Transient rentals is: State of Florida 7%, Charlotte County 3%)
  3. You have to file an annual tangible Tax return (a small annual tax payable on the assessed value of the furniture)
  4. The house has to be licensed for transient rental with the department of business and professional regulations and comply with there requirements

If you intend to spend more than 183 days in 3 years you will need to file a "Closer connection exemption form". Failure to do so can mean that the IRS can effectively tax you on your worldwide income.

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