PART B — ASSETS WORTH MORE THAN $1,000
[Required by Art. II, s. 8, Fla. Const.; s. 112.3144, F.S.]
HOUSEHOLD GOODS AND PERSONAL EFFECTS:
The value of your household goods and personal effects may
be aggregated and reported as a lump sum, if their aggregate
value exceeds $1,000. The types of assets that can be reported
in this manner are described on the form.
ASSETS INDIVIDUALLY VALUED AT MORE THAN $1,000:
Describe, and state the value of, each asset you had on the
reporting date you selected for your net worth in Part A, if the
asset was worth more than $1,000 and if you have not already
included that asset in the aggregate value of your household
goods and personal effects. Assets include, but are not limited
to, things like interests in real property; cash; stocks; bonds;
certificates of deposit; interests in businesses; beneficial interests
in trusts; money owed you (including, but not limited to, loans
made as a candidate to your own campaign); bank accounts
in which you have an ownership interest; Deferred Retirement
Option Program (DROP) accounts; and the Florida Prepaid
College Plan. Assets also include investment products held in
IRAs, brokerage accounts, and the Florida College Investment
Plan. Note that the product contained in a brokerage account,
IRA, or the Florida College Investment Plan, is your asset—not
the account or plan itself.
You are not required to disclose assets owned solely by your
spouse.
How to Identify or Describe the Asset:
— Real property: Identify by providing the street address of
the property. If the property has no street address, identify
by describing the property's location in a manner sufficient
to enable a member of the public to ascertain its location
without resorting to any other source of information.
— Intangible property: Identify the type of property and the
business entity or person to which or to whom it relates. Do
not list simply "stocks and bonds" or "bank accounts."
For example, list "Stock (Williams Construction Co.)," "Bonds
(Southern Water and Gas)," "Bank accounts (First National
Bank)," "Smith family trust," "Promissory note and mortgage
(owed by John and Jane Doe)."
How to Value Assets:
— Value each asset by its fair market value on the date
used in Part A for your net worth.
— Jointly held assets: If you hold real or personal property
jointly with another person, your interest equals your legal
percentage of ownership in the property. However, assets
that are held as tenants by the entirety or jointly with right of
survivorship, including bank accounts held in such a manner,
must be reported at 100% of their value.
— Partnerships: You are deemed to own an interest in a
partnership which corresponds to your interest in the equity
of that partnership.
— Trusts: You are deemed to own an interest in a trust
which corresponds to your percentage interest in the trust
corpus.
— Real property may be valued at its market value for
tax purposes, unless a more accurate fair market value is
available.
— Marketable securities which are widely traded and
whose prices are generally available should be valued based
upon the closing price on the valuation date.
— Accounts, notes, and loans receivable: Value at fair market
value, which generally is the amount you reasonably expect to
collect.
— Closely-held businesses: Use any method of valuation
which in your judgment most closely approximates fair market
value, such as book value, reproduction value, liquidation value,
capitalized earnings value, capitalized cash flow value, or value
established by "buy-out" agreements. It is suggested that the
method of valuation chosen be indicated on the form.
— Life Insurance: Use cash surrender value less loans
against the policy, plus accumulated dividends.
— The asset value of a leased vehicle is the vehicle's present
value minus the lease residual (a number found on the lease
document).
PART C— LIABILITIES
[Required by Art. II, s. 8, Fla. Const.; s. 112.312, F.S.]
LIABILITIES IN EXCESS OF $1,000 :
List the name and address of each creditor to whom you
owed more than $1,000 on the date you chose for your net worth
in Part A, and list the amount you owed. Liabilities include:
accounts, notes, and interest payable; debts or obligations
(excluding taxes, unless the taxes have been reduced to a
judgment) to governmental entities; judgments against you, and
the unpaid portion of vehicle leases.
You are not required to disclose liabilities that are solely your
spouse's responsibility.
You do not have to list on the form any of the following: credit
card and retail installment accounts, taxes owed (unless the
taxes have been reduced to a judgment), indebtedness on a life
insurance policy owed to the company of issuance, or contingent
liabilities. A "contingent liability" is one that will become an actual
liability only when one or more future events occur or fail to occur,
such as where you are liable only as a partner (without personal
liability) for partnership debts, or where you are liable only as a
guarantor, surety, or endorser on a promissory note. If you are a
"co-maker" on a note and are jointly liable or jointly and severally
liable, then it is not a contingent liability.
How to Determine the Amount of a Liability:
— Generally, the amount of the liability is the face amount
of the debt.
— The amount of the liability of a vehicle lease is the sum
of any past-due payments and all unpaid prospective lease
payments.
— If you are the only person obligated to satisfy a liability,
100% of the liability should be listed.
— If you are jointly and severally liable with another person
or entity, which often is the case where more than one person
is liable on a promissory note, you should report here only
the portion of the liability that corresponds to your percentage
of liability. However, if you are jointly and severally liable for
a debt relating to property you own with one or more others
as tenants by the entirety or jointly, with right of survivorship,
report 100% of the total amount owed.
— If you are only jointly (not jointly and severally) liable with
another person or entity, your share of the liability should be
determined in the same way as you determined your share
of jointly held assets.
(CONTINUED on page 5)
CE FORM 6 - Effective: June 2, 2022 PAGE 4
Incorporated by reference in Rule 34-8.002(1), F.A.C.
Examples:
— You owe $10,000 to a bank for student loans, $5,000 for
credit card debts, and $60,000 with your spouse to a savings
and loan for the mortgage on the home you own with your
spouse. You must report the name and address of the bank
($10,000 being the amount of that liability) and the name and
address of the savings and loan ($60,000 being the amount of
this liability). The credit card debts need not be reported.
— You and your 50% business partner have a $100,000
business loan from a bank and you both are jointly and
severally liable. Report the name and address of the bank
and $50,000 as the amount of the liability. If your liability for
the loan is only as a partner, without personal liability, then the
loan would be a contingent liability.
JOINT AND SEVERAL LIABILITIES NOT REPORTED
ABOVE:
List in this part of the form the amount of each debt for which
you were jointly and severally liable, that is not reported in the
"Liabilities in Excess of $1,000" part of the form. Example: You and
your 50% business partner have a $100,000 business loan from a
bank and you both are jointly and severally liable. Report the name
and address of the bank and $50,000 as the amount of the liability,
as you reported the other 50% of the debt earlier.
PART D — INCOME
[Required by Art. II, s. 8, Fla. Const.]
As noted on the form, you have the option of either completing
Part D of the form or attaching a copy of your complete 2021
federal income tax return, including all schedules, W2's and
attachments, with Form 6, or. If you do not attach your tax return,
you must complete Part D.
PRIMARY SOURCES OF INCOME:
List the name of each source of income that provided you
with more than $1,000 of income during 2021, the address of that
source, and the amount of income received from that source. The
income of your spouse need not be disclosed; however, if there is
joint income to you and your spouse from property you own jointly
(such as interest or dividends from a bank account or stocks), you
should include all of that income.
"Income" means the same as "gross income" for federal
income tax purposes, even if the income is not actually taxable,
such as interest on tax-free bonds. Examples of income include:
compensation for services, gross income from business, gains
from property dealings, interest, rents, dividends, pensions, IRA
distributions, distributive share of partnership gross income,
and alimony, but not child support. Where income is derived
from a business activity you should report the income to you, as
calculated for income tax purposes, rather than the income to the
business.
Examples:
— If you owned stock in and were employed by a corporation
and received more than $1,000 of income (salary, commissions,
dividends, etc.) from the company, you should list the name of
the company, its address, and the total amount of income
received from it.
— If you were a partner in a law firm and your distributive
share of partnership gross income exceeded $1,000, you
should list the name of the firm, its address, and the amount
of your distributive share.
— If you received dividend or interest income from
investments in stocks and bonds, list only each individual
company from which you received more than $1,000. Do not
aggregate income from all of these investments.
— If more than $1,000 of income was gained from the sale of
property, then you should list as a source of income the name
of the purchaser, the purchaser's address, and the amount of
gain from the sale. If the purchaser's identity is unknown, such
as where securities listed on an exchange are sold through a
brokerage firm, the source of income should be listed simply
as "sale of (name of company) stock," for example.
— If more than $1,000 of your income was in the form of
interest from one particular financial institution (aggregating
interest from all CD's, accounts, etc., at that institution), list the
name of the institution, its address, and the amount of income
from that institution.
SECONDARY SOURCES OF INCOME:
This part is intended to require the disclosure of major
customers, clients, and other sources of income to businesses
in which you own an interest. It is not for reporting income
from second jobs. That kind of income should be reported as a
"Primary Source of Income." You will not have anything to report
unless:
(1) You owned (either directly or indirectly in the form of an
equitable or beneficial interest) during the disclosure period,
more than 5% of the total assets or capital stock of a business
entity (a corporation, partnership, limited partnership, LLC,
proprietorship, joint venture, trust, firm, etc., doing business in
Florida); and
(2) You received more than $1,000 in gross income from that
business entity during the period.
If your ownership and gross income exceeded the two thresholds
listed above, then for that business entity you must list every
source of income to the business entity which exceeded 10% of
the business entity's gross income (computed on the basis of the
business entity's most recently completed fiscal year), the source's
address, the source's principal business activity, and the name of
the business entity in which you owned an interest. You do not
have to list the amount of income the business derived from that
major source of income.
Examples:
— You are the sole proprietor of a dry cleaning business,
from which you received more than $1,000 in gross income
last year. If only one customer, a uniform rental company,
provided more than 10% of your dry cleaning business, you
must list the name of your business, the name of the uniform
rental company, its address, and its principal business activity
(uniform rentals).
— You are a 20% partner in a partnership that owns a
shopping mall and your gross partnership income exceeded
$1,000. You should list the name of the partnership, the name
of each tenant of the mall that provided more than 10% of
the partnership's gross income, and the tenant's address and
principal business activity.
(CONTINUED on page 6)
CE FORM 6 - Effective: June 2, 2022 PAGE 5
Incorporated by reference in Rule 34-8.002(1), F.A.C.
Form 6 2021_instructions_FINAL.indd 2 6/2/2022 12:43:03 PM
