Florida Administrative Code › 12 - DEPARTMENT OF REVENUE › 12D - Property Tax Oversight Program › Chapter 12D-2 - ASSESSMENT OF THE PROPERTY OF RAILROADS, RAILROAD TERMINAL COMPANIES, PRIVATE CAR, FREIGHT LINE AND EQUIPMENT COMPANIES BY THE DEPARTMENT OF REVENUE › Section 12D-2.004 - Annual Returns of Railroads

Current through Reg. 50, No. 138; July 16, 2024
(1) It
				shall be the duty of each railroad or railroad terminal company to return, on
				or before the first of April annually, a full and complete return verified by
				an officer or authorized representative of the company, in such form as the
				Department of Revenue may prescribe, showing such of the following facts as may
				be requested by the Department and other such information as the Department may
				require, in the form and at the time prescribed:
(a) Total length of such railroad
				everywhere.
(b) Total length and
				owner's estimated value of such main track, branch, switch, spur, and side
				tracks. List of lots not leased or rented and terminal facilities in this state
				as of January 1.
(c) The total
				number of owner's estimated value of all rolling stock in this state as of
				January 1.
(d) The value of
				appurtenant supplies in this state as of January 1.
(e) A stock and bond value summation,
				including:
1. Long term bonds.
2. Stocks.
3. Equipment obligations.
4. Publicly held leased line
				securities.
5. Current
				liabilities.
(f) A
				statement of cost of additions and betterments made in the previous
				year.
(g) A report of the following
				statistics for each state in which the railroad operated in the past year:
1. All track miles.
2. Railroad operating revenue.
3. Ton and passenger miles.
4. Train miles.
5. Car miles.
6. Net investment in transportation
				property.
(h) A return of
				railroad equipment leased from others, showing the following information:
1. Owner.
2. Tax liability, lessor or lessee.
3. Date of first rental payment.
4. Lease/contract date of
				expiration.
5. Number of
				units.
6. Age of unit.
7. Type of unit.
8. Original cost.
9. Annual depreciation (owner's).
10. Accumulated depreciation
				(owner's).
11. Rental
				payment.
12. Depreciation
				schedule.
(i) A return of
				railroad equipment leased to others (data same as requested in paragraph
				(h)).
(j) An inventory of
				non-operating property in this state as of January 1 including:
1. Either legal description of property
				including section, township and range or description used by property
				appraiser.
2. Location of
				property.
3. Parcel number assigned
				by county.
4. Railroad
				identification number.
5. Number of
				acres or fractions thereof.
6. Book
				value.
7. Current assessed
				value.
(k) A statement of
				location of side tracks owned by others connected to said railroads in this
				state as of January 1.
(l) A list
				of private car lines or freight line and equipment companies whose cars were
				transported in the previous year including:
1.
				Name of private car line or freight line and equipment company.
2. Company address.
3. Car identification number.
4. Type of car.
5. Miles traveled in Florida, loaded and
				empty.
(m) A statement of
				total value of locally assessed property in Florida including:
1. Assessed value (as locally
				assessed).
2. Book
				value.
(n) A notarized
				certificate of execution and verification signed by an officer or authorized
				representative of reporting company.
(o) A complete copy of the annual report to
				the Surface Transportation Board dated, as of the end of the fiscal year, just
				preceding January 1 of the taxable year.
(p) A copy of complete audited financial
				statements, as of the end of the fiscal year, including, at a minimum:
1. Audited balance sheet.
2. Audited income
				statement.
(q) A copy of
				the audited annual report of the railroad, as of the end of the fiscal year, to
				shareholders.
(r) A copy of the
				audited annual report of the parent company of the railroad, as of the end of
				the fiscal year, to shareholders.
(s) A copy of the annual 10-K report of the
				railroad, as of the end of the fiscal year, to the Securities and Exchange
				Commission, if applicable.
(t) A
				copy of the annual 10-K report of the parent company of the railroad, as of the
				end of the fiscal year, to the Securities and Exchange Commission, if
				applicable.
(u) A list of
				constitutionally-exempt property pursuant to Article VII, section 1(b), Florida
				Constitution, which exempts certain classes of property from ad valorem
				property tax, such as motor vehicles, boats, airplanes, trailers, trailer
				coaches and mobile homes, as defined by law, which are subject to a license tax
				for their operation in the amounts and for the purposes prescribed by law. The
				list of constitutionally-exempt property, licensed in Florida, must contain an
				itemized financial accounting depreciation schedule that details original cost,
				annual financial accounting depreciation charges, accumulated depreciation and
				depreciated cost. The list should be prepared as if the equipment is owned by
				the taxpayer and the depreciation to be reported is the financial accounting
				depreciation. Any agreements for the lease of "car marks" should be shown as
				leased from others.
(v) A list of
				any sales or leases of operating track to others.