All Kansas residents and businesses that own taxable property, as well as all non-residents who own debts or other intangible assets with a business address in Kansas and who receive property income in the calendar year or fiscal year ending in 2012, must file Form 200 (not available online). If you live in an area where there are no intangible taxes, or if your tax is less than $5, you do not need to file Form 200. To find out if you live in a community that collects intangible taxes, go to ksrevenue.org/pdf/20013.pdf scroll down page three to find the list of Townships in McPherson County and the tax rate. The intangible tax is a local tax, not to be confused with the state income tax, which is used to support the state government and is levied on the gross income of intangible assets, such as: The tax is due only to the extent that the bond is secured by real estate in Florida. Thus, if real estate in Florida and other real estate secures the debt, neither property having to be searched for first for collection, the tax can be prorated. Visit the website above to print Form 200. If you have any questions, please call the McPherson County Clerk`s Office at 620-241-3656 Florida Executed Loans – Not Secured by Florida Real Estate (Note: This only applies to Florida lenders). A lender who: (i) finances a loan in the State of Florida, whether or not the loan is secured by real estate in Florida; or (ii) obtain an out-of-state loan with Florida Real Property Collateral Make sure to calculate and collect the amount of stamp tax on documents and intangible asset tax (if any) due and payable to the Florida Department of Revenue at closing. Failure to raise the necessary funds for closing could put the lender in the difficult position of having to pay unpaid taxes when the instruments are registered.
Loan executed in Florida – supported by real estate in Florida: If the tax is not paid to the county, it must be paid directly to the Florida Department of Revenue with a statement that includes the names of the parties, the date and the amount of the bill. Chapter 199, Florida Statutes (F.S.), imposes a one-time intangible tax on obligations to pay money to the extent that the bond is secured by a mortgage or lien on Florida real estate. Tax is due even if the mortgage or lien is not registered or filed in Florida. Under no circumstances will the tax be calculated on an amount greater than the market value of the guaranteed properties in Florida. For more information about the Florida Documentary Stamp Tax or Intangible Tax, please contact Starfield & Smith`s attorneys at (407) 667-8811 or (215) 542-7070. The single intangible tax is usually paid to the county at the time of registration of the note or mortgage. As a rule, only unconditional obligations to pay money are subject to tax. According to § 199.143 Abs. 3 F.S. However, a line of credit obligation is also subject to a one-time intangible tax to the extent that it is secured by a mortgage on real estate in Florida.
Once the tax on the total amount of the line of credit has been paid, no additional tax is due. The lender is the taxpayer for the single intangible tax. The single intangible tax is paid at the time of filing or underwriting the mortgage in Florida. If the mortgage is not recognized within 30 days of the date the bond is secured by the mortgage, the tax payment must be made directly to the Florida Department of Revenue. Any tax payments made directly to the Department are late after the 30th day following the date the commitment is secured by Florida Real Estate. The single intangible tax rate is 2 million. The tax is calculated by multiplying the amount of the bond secured by Florida real estate by 0.002. You must file a Form 200 (not available online) with the McPherson County Clerk`s Office each year by April 15.
There is no provision for extensions of the Filing Deadline for Form 200. DO NOT include Form 200 with your Kansas tax return and submit it to the Department of Revenue. The McPherson County Clerk will calculate your tax and you will be billed by your McPherson County Treasurer in November. If your tax return is late, interest and/or penalties may be imposed by the district treasurer`s office. This will be included in your tax slip when you receive it. If your tax is less than $5, you will not be charged. There are two types of taxes that the lender should be aware of:. .