DOR's Sales Tax TIP for 2012
SALES TAX HOLIDAY IS AUGUST 3rd – AUGUST 5th
If your business sells clothing, footwear, accessories, or school supplies in Florida, you need to know about the upcoming Sales Tax Holiday. For 3 days in early August, these items will not be subject to state sales tax if they meet certain price restrictions.
Here are some details about the 2012 tax-free shopping days:
- The sales tax holiday is earlier this year: it begins at 12:01 a.m. on Friday, August 3rd and runs through midnight on Sunday, August 5th.
- Tax-free items are clothing and footwear selling for $75 or less, and school supplies selling for $15 or less.
- The sales tax exemption applies no matter how many tax-free items a customer buys. There is no limit to the amount of items that can be purchased tax-free.
- Books are not included in the sales tax holiday.
- To be tax-free, clothes and shoes must sell for $75 or less.
- To be tax-free, school supplies must sell for $15 or less each.
Retailers are not required to keep additional or special records for the tax-free days. Simply continue to keep your normal sales tax records. Sales of eligible items that are sold tax-free from August 3rd through the 5th should be reported as exempt sales on your sales tax return for that period. The Florida Department of Revenue has mailed a detailed Tax Information Publication to all active registered sales tax dealers explaining:
- A detailed list of items that are tax-free and which ones are taxable
- What to do when a product contains both exempt and taxable items
- How to deal with gift certificates
- How to handle exchanges of tax exempt purchases after the tax-free days are over
- How to do refunds during/after the tax-free days
- How to handle coupons, rebates, discounts, rain checks and layaways
- How to handle tax-free sales in Bay County
>> Click here to download the Department’s Taxpayer Information Publication on the sales tax holiday. <<
>> Click here for detailed, alphabetized list of items and whether they will be tax-free or not. This list is an 8 ½” by 11” poster that you can print out and display at your business for reference during the sales tax holiday. <<
If you have questions about the sales tax holiday, call the Department of Revenue’s toll-free Taxpayer Assistance line at 800-352-3671 weekdays between 8 a.m. and 7 p.m. Or, you can visit the Department’s website at www.myflorida.com/dor.
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