One plausible theory for challenging Valdez's power to claim for itself values attributable to a portion of the days that the vessels are on the high seas is that tangible personal property without a taxable situs based on physical presence is not taxable anywhere.
Indeed, the Court's precedents squarely support the view that the domiciliary state retains power to tax tangible personal property that does not have a taxable situs elsewhere based on physical presence.
119) Accordingly, as a matter of due process, the stronger constitutional theory for challenging the port-day and similar apportionment formulas is that tangible personal property without a taxable situs based on source is taxable only on the basis of residence, not that it is taxable nowhere.
The problem with this approach, however, is that it fails to explain why it is "appropriate to presume that the domicile is the only State affording the 'opportunities, benefits, or protection,' which due process demands as a prerequisite for taxation," (125) when property has a physical taxable situs in neither the domiciliary nor nondomiciliary states.
The DOR also noted, "[t]he rule that the taxable situs
of intangibles is at the technical domicile of the owner is but a mere fiction, and will not be followed when the fact is clear that the intangible property has a situs elsewhere" (Wheeling Steel Corp.
In general, a taxpayer (which includes individuals, corporations, partnerships, limited liability companies, estates and trusts) was subject to the tax if the taxpayer had a taxable situs in Florida.
For trusts, unlike other entities, the determination of whether a trust had a taxable situs in Florida was based upon whether 1) the trustee had a Florida situs,(4) or 2) the trust had a Florida resident who had a taxable beneficial interest.
acquired a taxable situs
in such other state), the state of residence
175(1) expressly states that the taxable situs
of intangibles "owned, managed, or controlled" by a Florida domiciliary is in Florida.
two-tenths of a percent) on the value of all intangible personal property which has a taxable situs in Florida.
032, an annual tax of 2 mills is imposed "on each dollar of the just valuation of all intangible personal property which has a taxable situs in this state .
The rules governing taxable situs provide that intangible personal property has a taxable situs in Florida when it is owned, managed, or controlled by any person domiciled in Florida on January 1 of a given tax year.