Assets exempt from federal income tax are not necessarily exempt from Floridas intangible tax. What is Exempt?
• Money (including cash-on-hand and in checking or savings accounts), certificates of deposit (CDs), annuities, and cash values of insurance policies. • All intangible property held in an employee welfare, benefit, or retirement plan qualified under section 401, U.S. Internal Revenue Code, (I.R.C.) as amended. • All intangible property held in an individual retirement account (IRA) qualified under section 408 (IRA), s. 408a (Roth IRA), and s. 530 (Educational IRA), U.S.I.R.C., as amended. • All intangible property held in a deferred compensation plan offered to government employees and is qualified under section 457, U.S.I.R.C., as amended. • Bonds, notes, and other obligations issued by the State of Florida; its counties, municipalities, or other taxing districts; and by the U. S. government and its agencies, territories, and possessions, the Commonwealth of Puerto Rico, Guam, U.S. Virgin Islands, American Samoa, and the Northern Marianas. If the fund holding these investments is inco
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