General TDT Rules
General Rules for Collecting and Remitting TDT
TDT returns are due the month following when the rental stay occurred. A collection allowance (i.e. discount) is available for those that both file & pay online & on time.
Technically, the tax return due date is the 1st of the month following when the rentals occurred; however, FL Statutes allow a 20-day grace period to get the monthly rental revenue totals together so the return is delinquent if postmarked or submitted after the 20th. (When the 20th falls on a weekend or county/state/federal holiday, the delinquency date/deadline falls to the next business day.)
If a return is delinquent, the collection allowance is disallowed, & penalty & interest will be charged. Per FL Statute, the penalty is 10% of the tax due or $50, whichever is greater. Interest accrues daily at a variable rate established by the FL Dept. of Revenue. If noncompliance continues, collection action is taken as outlined in the FL Statutes.
Managers/owners are also required to keep all records associated with rental revenue for a minimum period of three years in accordance with generally accepted accounting principles. These records must be made available for audit upon 60 days’ notice from the Walton County Clerk of Court.
Authority: FL Statutes 212 & 213; FL Administrative Code 12A-1.060