FL – Solid mineral tax rates for 2024 announced

Florida has released the severance tax rates on the production of heavy minerals and other solid minerals for 2024. From January 1, 2024, through December 31, 2024, the tax rate for phosphate rock producers remains $1.61 per ton. For tax year 2024, the tax rate on the production of heavy minerals remains $3.80 per ton. Phosphate rock and heavy minerals producers should use these rates when completing the Declaration/Installment Payment of Estimated Solid Mineral Severance Tax (Form DR-142ES). There is no change in the tax rate for the production of other solid minerals. The tax remains 8% of the taxable value of other solid minerals produced. Tax Information Publication, No. 24B07-01, Florida Department of Revenue, March 29, 2024