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15. Real estate mortgage investment conduits (REMIC's) and

Tax Calculation Worksheet

financial asset securitization trusts (FASIT's) secured by

Column:

mortgage.

All corporations, partnerships, affiliated groups and

fiduciaries — Enter the amount from Line 6 of Schedule A on

Completing Form DR-601C. Verify the name, address and

the first line. Multiply this amount by .002 and enter the result

federal employer identification number (FEIN) at the top of the

on Line 15A. Transfer this amount to Schedule A, Line 7

page and at the bottom of the payment coupon. If the address is

on the face of the return.

incorrect, mark "X" in the address changes box and complete the

IMPORTANT INFORMATION REQUIRED on the back of the return.

Banks and saving associations only—Enter the amount

Mark "X" in the appropriate box indicating the type return being

from Line 6 of Schedule A on the first line of this column.

filed, such as corporation, partnership, affiliated group, fiduciary, or

Multiply this amount by .0015 and enter the result on Line

charitable trust. If the return is being filed by a bank or an entity

15B. Transfer this amount to Schedule A, Line 7 on the

claiming charitable trust status under Chapter 199, F.S., mark the

face of the return.

space provided. If an information only return is being filed, enter

the SSN in the space provided in box 2.

Charitable trust that has contributed 95% of its income to an

organization exempt from federal income tax under Section

Schedule A

501(c)(3) I.R.C.—Enter the amount from Line 6 of Schedule A

in the first line of this column. Multiply this amount by .001 and

Before entering amounts on Lines 1-5, read the instructions for

enter the result on Line 15C. Transfer this amount to

Schedules B, C, D, and E. Then, complete the appropriate

Schedule A, Line 7 on the face of the return.

schedules.

LINE 8

Credits—Use the Tax Credit Worksheet to determine

LINE 1

Accounts Receivable — Enter total from Accounts

the amount of credit allowed for intangible taxes paid in

Receivable Worksheet, Line 14.

another state or to be taken by banks and savings

associations.

Accounts Receivable Worksheet Instructions

LINE 14 Enter total amount of accounts receivable that arise

Tax Credit Worksheet

from your normal business activity, and multiply amount entered

Line:

by .6666. Transfer this amount to Schedule A, Line 1.

Use this line to claim the tax credit for intangible taxes paid

for the same year on the value of intangible personal property

Businesses that operate on a cash basis accounting system

subject to an intangible tax in another state and subject to tax

are to report the credit balances owed to them as of

in Florida. The amount of credit allowed is the lesser of the

January 1 of the tax year, unless the taxpayer can establish a

amount of intangible tax actually paid to the other state or the

lesser value. One-third of accounts receivable arising from the

amount of intangible tax paid to Florida. Persons claiming this

ordinary course of a trade or business are exempt. The remaining

exemption are to attach a supporting schedule to the return

two-thirds are taxable. Credit card receivables that are owned by a

listing specific property subject to an ad valorem intangible

Florida bank, savings association, subsidiary or affiliate of a

tax in another state, the value of the property, the amount of

Florida bank or savings association shall have a taxable situs in

tax paid on the property and the state in which the tax was

this state only when the debt is owed by a person domiciled in

paid. Enter the amount of the credit on Line A of the Tax

Florida. This is a receivable to the business even though it is not

Credit Worksheet.

recognized as income until payment is received.

Use this line to determine the amount of credit allowed a bank

LINE 2

Loans and Notes Receivable — Enter total from

or savings association. Banks and savings associations are

Schedule B, Line 17.

entitled to a credit against their intangible tax liability. The

credit is determined by calculating 33% of the intangible tax

LINE 3

Bonds — Enter total from Schedule C, Line 18.

paid in the prior year. Enter the amount on Line B(1). If no

intangible tax was paid in the prior year, enter zero on Line

LINE 4

Stocks, Mutuals, Money Market Funds, Limited

B(1). Next, enter the amount of corporate franchise tax credit

Partnership Interests, and Beneficial Interest in Any

determined under the provisions of s. 220.68, F.S., on Line

Trust — Enter total from Schedule D, Line 19.

B(2). Subtract Line B(2) from Line B(1). Enter the result on

Line B(3). If the result is less than zero, enter zero on Line

LINE 5

As Agent for Stockholders—Enter total from

B(3).

Schedule E, Line 20.

A credit of 35% of the cost of voluntary cleanup or

LINE 6

Total Taxable Assets—Enter total of Lines 1 through 5.

rehabilitation costs incurred on or after July 1, 1998, of the

This is the total value of all taxable intangible property

following contaminated sites is allowed against the intangible

included on the return.

tax due in any year, less any credit taken under s. 220.68,

F.S., for corporate income tax. The following sites qualify for

LINE 7

Tax Due—Use the Tax Calculation Worksheet to

the credit:

determine the amount of tax due. The amount shown

on Line 6 of the return is to be entered in the first line of

1. A dry-cleaning solvent contaminated site eligible for state

either Column A, B, or C. Use the following Tax

funded site rehabilitation under s. 376.37078(3), F.S.

Calculation Worksheet instructions to determine the

appropriate column.

Form Dr-601c - Intangible Tax Return For Corporation, Partnership And Fiduciary Filers - 1999 Page 6

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