Florida’s Floating Docks are Taxable

A Florida technical assistance advisement was posted on November 15, 2006, in response to a taxpayer’s petition of whether or not floating docks are classified as tangible personal property and therefore exempt when purchased as exclusively for leasing purposes. It was determined that although the floating docks are tangible personal property, they are not permanently attached or anchored to realty as required for an item to be classed as an improvement to real property. The taxpayer’s purchase of the floating docks is a separate and distinct taxable privilege from the taxpayer’s lease of the docking and storage space; hence, the taxpayer cannot purchase the floating dock exempt from tax as purchased exclusively for lease. (Technical Assistance Advisement, No. 06A-036, Florida Department of Revenue)

Posted on February 13, 2007