Open an Account

1-800-FMS-BOND

1-800-367-2663

1-800-FMS-BOND

1-800-367-2663

Florida Investors Closer to a Tax Break

Klotz on Bonds

Home > News and Perspectives > Florida Investors Closer to a Tax Break

<h3>James A. Klotz</h3>

James A. Klotz

Florida investors are one step closer to getting a tax break, courtesy of the state Legislature.

Florida’s House of Representatives approved a bill April 5 that would eliminate the state’s intangibles tax.

The bill is expected to be quickly passed by the Senate and approved by Gov. Jeb Bush, who is a staunch supporter of the repeal.

The bill’s passage will repeal the one-mill tax on out-of-state municipal bond holdings as of Jan. 1, 2006. People who owe the tax in calendar year 2005 and previous years will still be responsible for those payments.

James A. Klotz is the President of FMSbonds, Inc.
Email the Author

Apr 7, 2005

Please note that all investing entails risk. Fixed income securities are subject to risks that will affect their value prior to maturity. Some of these risks can be related to changes in market conditions, issuer creditworthiness, and interest rates. This commentary is not a recommendation to buy or sell a specific security. All references to tax-free income refer to U.S. federal income tax. Income earned by certain investors may be subject to the Alternative Minimum Tax (AMT), and or taxation by state and local authorities. Please consult with your tax professional prior to investing. For more information on these topics please click on the “Bond Basics” link below or search by keyword at the top of this page.