Florida Begins Updating Sales and Use Tax Rules

The Florida Department of Revenue has begun revising several administrative sales and use tax rules to incorporate changes already enacted by the Legislature. The proposed updates address exemptions for certain gold and silver coins recognized as legal tender, the tax treatment of specified heavy trucks and the operation of Florida’s recurring back-to-school sales tax holiday.

The process is important for retailers, precious-metal dealers, transportation companies and tax professionals because the administrative rules determine how statutory exemptions are documented and applied in everyday transactions. Businesses may eventually need to update point-of-sale systems, exemption procedures and transaction records to comply with the finalized language. A rule-development workshop is scheduled for August 18 if one is requested and the Department considers it necessary. For more information click here.