Miami-Dade Florida Form 668 (Y) (c) 2017-2025

Miami-Dade Florida Form 668 (Y) (c): What You Should Know

Florida. Searching the database also allows you to enter specific building numbers. Taxes, Fees, & Insurance Business Licenses An initial and renewal fee must be paid for a Business Identification Number, Business Tax Identification Number, a Local Business Tax Identification Number and a Florida Environmental Resources Management registration. Business Taxes Additional fees may be required for non-resident tax returns including a “Sales Tax Adjustment” fee where applicable. Property Taxes A property tax assessment may incur an amount for a bond premium. If you do not have this premium, you will be assessed the entire tax plus bond premium. Commercial Business Registration There are three types of licenses: “Commercial” (C), “Professional” (P), and “Specialty” (S). Each type of license has specific requirements. C License — You must have at least 10 employees, have a minimum of 1.8 million square dollars of annual gross revenues and have a net worth of 100 million. Business License — You must have a minimum of 10 employees, have a gross revenue of 1 million dollars, and have a net worth of 250 million. If you are an “eligible franchisee” you can have a franchise that is exempt from this requirement. Professional License — You must have at least 10 employees, have annual gross revenues 1 million dollars and a net worth of 375 million. If you are an “eligible franchisee” you can have a franchise that is exempt from this requirement. Specialty Licenses — You must have 10 or more employees, have annual gross revenues of 25 million or more, and have a net worth of 300 million. For more information on these licensing requirements refer to the Department of Business and Professional Regulation's website. Renewal — The license is renewed biennially until it expires, at which time you renew online either by mail or in person. Poster Applications — For commercial and specialty licenses the cost includes the application. There is no cost for professional licenses. Personal Property Tax — The following categories of taxes apply to business property, including a general assessment; and if applicable, an appraiser's or solicitor's fee. The property must be owned by the business and be valued at the amount set forth in Code Section 721.121(3). Residential Tax — Property owners are liable for the full amount of the property taxes that their property is assessed and must pay before the assessment becomes due.

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