Dear fellow Blogers,
I just wanted to share the good news with you. They have just arrived to our CCIM Ft. Lauderdale-Broward District, thanks to our Legistlative chair Claudette Bruck.
JM Padron, CCIM, CRB
President
CCIM Ft. Lauderdale-Broward
Dear FAR Leadership Team, State and Local Taxation Committee, GADs, and others:
We got some great news this morning when the Governor and Cabinet unanimously approved an emergency rule proposed by the Florida Department of Revenue to address the corporate income tax problems created when the 2008 Florida Legislature de-coupled from federal income tax law. We've attached a copy of the rule. The rule is good for 90 days until the Legislature can act to correct the problems created by Chapter 2008-206 (HB 5065).
Each year the Florida Legislature adopts the current Internal Revenue Code as the starting point for calculating Florida income tax. In 2008 the Florida Legislature made the conscience decision not to adopt provisions of the federal Economic Stimulus Act which allowed taxpayers to claim "bonus depreciation" and immediately expense rather than depreciate costs of certain assets. Florida did so to avoid the negative fiscal impact of tracking federal law. However, the language of the Florida legislation unintentionally suggested that Florida taxpayers would not only be prohibited from claiming these new tax benefits, they also would be forever foreclosed from claiming depreciation deductions to which they had been entitled prior to adoption of the federal Economic Stimulus Act.
The emergency rule makes it clear that taxpayers will be held harmless and not suffer permanent loss of these depreciation deductions.
FAR worked together with the Florida Chamber of Commerce, Associated Industries of Florida, the Florida Institute of Certified Public Accountants, Florida Tax Watch, the Retail Federation, and a number of other business groups to fix this issue before year-end when Florida taxpayers would have to account for the additional taxes.
We were very concerned that in addition to paying more in taxes, Realtors and their companies would have to have "two sets of books" when filing their corporate income taxes. We believe this solves the issue until the Legislature acts.
Emergency RULE 12CER08-31 follows,
STATE OF FLORIDA
DEPARTMENT OF REVENUE
CORPORATE INCOME TAX
Emergency RULE 12CER08-31
12CER08-31 2008 Federal Stimulus Package Additions.
(1) Scope. This rule only applies to taxpayers subject to additions under Section 220.13(1)(a)14. or Section 220.13(1)(a)15., F.S.
(2) For purposes of the addition required by Sections 220.03(3) and 220.13(1)(a)14., Florida Statutes, taxpayers are required to add-back the amount of the federal deduction claimed under Section 179 of the Internal Revenue Code, that exceeds $125,000, as adjusted pursuant to Section 179(b)(5), I.R.C.
(3) For purposes of the addition required by Sections 220.03(3), 220.13(1)(a)14., or 220.13(1)(a)15., Florida Statutes, taxpayers are required to add-back an amount equal to:
(a) the total depreciation claimed under Sections 167 and 168 of the Internal Revenue Code on the related federal return, minus
(b) the amount of depreciation deduction that would have been allowable under Sections 167 and 168 of the Internal Revenue Code as in effect on January 1, 2007, if the taxpayer had not expensed any amounts in excess of $125,000 under Section 179 of the Internal Revenue Code (as adjusted pursuant to Section 179(b)(5), I.R.C.), or taken bonus depreciation pursuant to the Economic Stimulus Act of 2008 under Section 168(k) of the Internal Revenue Code.
(4) In tax years beginning after December 31, 2008, taxpayers shall make an adjustment to their Florida taxable income by an amount equal to:
(a) the amount of depreciation deduction that would have been allowable under Sections 167 and 168 of the Internal Revenue Code as in effect on January 1, 2007, if the taxpayer had not expensed any amounts in excess of $125,000 under Section 179 of the Internal Revenue Code (as adjusted pursuant to Section 179(b)(5), I.R.C.), or taken bonus depreciation pursuant to the Economic Stimulus Act of 2008 under Section 168(k) of the Internal Revenue Code, minus
(b) the amount of depreciation deduction taken under Sections 167 and 168 of the Internal Revenue Code on the related federal return.
(5) Upon the sale or disposition of property for which an addition was required under Subsections (2) or (3), the gain for Florida purposes is the same as the gain for federal purposes. However, the taxpayer shall adjust its Florida taxable income by an amount equal to:
(a) the Florida depreciation taken on the asset, taking into account Subsections (2), (3), and (4), minus
(b) the total federal depreciation taken on the asset under Sections 167 and 168.
(6) The total amount of adjustments claimed for property for all years may not exceed the respective additions under Sections 220.13(1)(a)14. and 220.13(1)(a)15., F.S., for the same property. A schedule reflecting the additions and all subsequent adjustments must be attached to the return.
Specific Authority: Sections 1, 2, and 5, Chapter 2008-206, Laws of Florida. Law Implemented Sections 1, 2, and 5, Chapter 2008-206, Laws of Florida. History-New 12-10-08.
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Group Health Insurance: REMAX Premier Associates understand the need of the independent contractors and has entered into an agreement with United Health care to provide affordable insurance to its agents with no pre-existing condition restrictions.
The Myth of REMAX fees: Since REMAX is the firm that has the highest commission split, agents must pay a monthly fee to account for the REMAX Branding and support and for the office expenses. When you do the math at the end of the day, the REMAX System has been proven to be the best, income wise and support wise. REMAX Premier Associates has implemented a Non Stress Program consisting in paying a minimum monthly fee.
Premier Associates has established a culture based on education, technology and networking. Become a part of our top notch organization, a privilege not found in other places. The highly educated and experienced mentors will guide you in the Commercial or Residential fields. Make the right choice today and send your resume to:
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or Call 954-453-1880
FLORIDA CCIM MEMBERSHIP BENEFITS Dear Colleague, I just wanted to present some important facts to join our Wonderful Ft. Lauderdale-Broward CCIM District, part of the CCIM Florida Chapter. JM Padron, CCIM President CCIM Ft. Lauderdale - Broward Distrcit
Education We hold the most educational classes of any Chapter, and will be responsible for more than 25 CCIM classes coming to the state of Florida each year. The CCIM Designation Program will prepare CCIMs to identify their client's commercial and investment real estate needs and satisfy them. This program of study covers the real estate development process, marketing analysis, site selection, leasing, exchanging, syndication and investment counseling. Chapter members who register 30 days prior to the course will receive a discount. The educational opportunities are endless for Florida Chapter members. Educational sessions are held during each state meeting and are often held on the local level by the chapter districts.
Designation Promotion Promotion of the CCIM designation inside and outside of the industry is one of our major priorities.
Marketing Forums Marketing sessions are held during each state meeting. Participants bring their listings and investor needs to the marketing session and display them to potential buyers/investors and/or present them on a screen via slides and Power Point presentations. Property pitch sessions are standard fare on the local level. Members are invited and encouraged to pitch properties at district meetings. The chapter sponsors special events where real estate professionals showcase properties to real estate developers, investors and the general public.
Candidate Development Candidate Development provides assistance to candidates working toward the coveted CCIM designation. Workshops are held during each state meeting at which candidates have the opportunity to work on resumes in a one-on-one setting. CCIM Institute graders are available to provide guidance and assistance.
Networking Opportunities Networking activities are planned throughout the year for the very purpose of doing business. These friendship- and money-making opportunities will enable you to network with top professionals while making deals at the same time. There are fantastic networking opportunities that come from the programs put on by the Florida Chapter, like the Real Estate Outlook Conferences, put on by the local Districts and socials held during each class that allow valuable interaction between Candidates and Designees. In addition, the Florida Chapter has had several of the national Institute Presidents come from our Chapter, which gives Florida members a louder voice on a national level.
Allied Professionals Many allied professionals who are members of the chapter are a good source for business and referrals.
Web Site The Florida Chapter has its very own web site. You will find our education calendar, membership directory, property listing database and so much more. Visit us at www.flccim.com.
E-mail Florida Chapter members communicate via e-mail. When management opportunities or money-making deals arise, the information is disseminated electronically.
Newsletter The Voice is an excellent resource which highlights state and federal legislative issues, industry news, chapter events, educational information and more.
Membership Database Chapter members are an easy way to target-market your properties and investors. You will have access to all FL-CCIM members via our website. Please visit www.flccim.com.
Total Commercial As a Chapter member, you have complimentary membership to Total Commercial, a commercial property listing database, a $60 value!
Chapter Assistance Chapter assistance is only a telephone call away - 888-767-2246, or 407-647-8839, ext. 260
Designees have attained their CCIM designation and are current with their CCIM Institute dues. Candidates have made a formal application to the CCIM Institute and are current with their CCIM Institute dues. Associates are commercial practitioners who are in neither of the above categories. Affiliates are not brokers but are in professions that work with commercial professionals.
FLORIDA CCIM CHAPTER MEMBERSHIP APPLICATION
Name: _____________________________________________________________________________
Last First MI
Company: __________________________________________________________________________
Address: ___________________________________________________________________________
City, State, ZIP Code _______________________________________________________________
Office Phone: _________________________________Cell Phone:___________________________
Fax Number:___________________________________
E-Mail: __________________________________FREC License #:______________________________
County: ______________________________ Designee/Candidate #: _____________________
District _____________________
Designation(s) Obtained: __________________________ (CCIM, CRB, CPM, MAI, etc.)
Membership Classification: _________________________ (Designee, Candidate, Associate, Affiliate)
Interests/Comments (Please indicate if you would be willing to serve the Chapter): ___________________________________________________________________________________________ Specialization(s): ____________________________________________________________________________ Please submit annual dues of $200 ($100 after July 1) plus $50 new member application fee (total $250) by check made payable to Florida CCIM Chapter. If you prefer to pay by Visa, MasterCard, or American Express, please complete the information below. __________________________________________________________________________________________ Visa, MasterCard, or American Express Number Expiration Date _____________________________________________________________________Verification Code___________ Exact Name on Card __________________________________________________________________________________________ Signature Date Chapter dues are separate from CCIM Institute dues and/or local board dues. Chapter dues entitle you to membership and benefits in state and local functions. See the back side of the application for a list of member benefits. Mail or fax your payment to: CCIM Florida Chapter 888-767-2246 or 407-647-8839, ext. 260 2500 Weston Road Suite 103 Westron, FL. 33331
6000 SF of Prime Restaurant Space in Weston. Equipped restaurant ready to operate, bring your chef and your staff!!
Unit B, outdoor seating included!
Move In: $150,000
Base Rent: $37.00/S F
TIM: $15.50/S F
Waterways Shoppes I of Weston is a 35,898 square feet center situated on 4.9 acres in the Northeast corner of Weston Road and North Commerce Parkway. Waterways Shoppes I is a complete stabilized plaza, 70% of its Tenants have been in the center since the opening in early 2000.
Professional Office/Retail
Suite Number: R-A
Space Available SF: 2,000 SF
Minimum Divisible SF: 2,000 SF
Maximum Contiguous SF: 2,000 SF
Space Subcategory 1: Office Building
Space Subcategory 2: Office Showroom
Lease Rate ($/SF): $20 PSF
Lease Rate Type: Annual
Date Available: 11/11/2008
Lease Term (Months): See Agent
Lease Type: Absolute NNN
Space Type: New
Conference Rooms: 1
Offices: 5
Kitchen: Yes
Parking Spaces: 6
Real Estate Taxes: $5.25
Operating Expenses: $13
CAM Expenses: $7.75
Rent Escalators: Index Lease
Rent Escalators Description: 4.5% Annually
Rent Concession: office is being offered fully furnished, with
PBX and 15 phones, 1 T1 Internet service,
Photocopy machine. Phone service (excluding
International long distance) Internet Service
and electricity are included.
200 S Andrews Ave., Fort Lauderdale, FL 33301
Palm Beach Commercial Real Estate, Palm Beach, Broward & Miami-Dade Counties, specializing in Shopping Centers (Retail), represents Tenants and Landlords. Acquisitions, dispositions, leasing & PM
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