Upon the processing of Florida Form DR-308, a certificate releasing the Florida estate tax lien is issued to the personal representative. A deposit is required of a nonresident's estate of at least the amount of tentative estate tax due. A deposit may be required of a resident's estate if the Department determines it necessary to cover the estate tax estimated to be due. If the tax is not paid by the 30th calendar day after the due date or the approved extension date, the late-payment penalty increases to 20 percent. A fraud penalty of 100 percent of the tax due, if the deficiency is due to willful intent to defraud.
Interest is due on late payments and is calculated from the due date until paid.
The floating rates are updated January 1 and July 1 of each year by using the formula established in Section 213.235, Florida Statutes. To obtain a refund of estate tax when domicile in another state is involved or at issue, Florida must be named as a party to any settlement agreement between the estate and the other state, or Florida must be allowed to intervene in the court of the state where the domicile issue is being decided. Otherwise, refunds of Florida estate tax will not be made based on an assertion of domicile by another state. Any documentation sent to the IRS should be copied and sent to the Florida Department of Revenue. A. No, Florida does not impose gift or inheritance taxes.