If an organization is properly organized as an exempt organization, then it will be granted a Florida exemption certificate when it registers for sales and use tax in Florida. If only the sales and use tax problems stopped at this stage. One common scenario that is presented in this area is the exempt entity purchases tangible property.What property is exempt under Florida probate?
Exempt Property Under Florida Probate Code. The Florida Probate Code provides that the surviving spouse, or if there is no surviving spouse, the children, may have a right to receive a share of the estate free from creditors. This share is known as exempt property under the Florida Probate Code. The exempt property statute is Section 732.402.Does Florida have a gift tax?
Finding Out About State Gift Tax. Florida does not have a state gift tax as of 2018. Prior to 2005, the state had a state gift tax, but the Economic Growth and Tax Relief Reconciliation Act phased it out. This means that a resident of Florida can give a gift to another person of money, a car or other type of gift of any value without having to pay the state any amount for tax.