CODING: Words stricken are deletions; words underlined are additions.House Bill 0529
Florida House of Representatives - 1997 HB 529
By Representative Fischer
1 A bill to be entitled
2 An act relating to tax on sales, use, and other
3 transactions; amending s. 212.11, F.S.;
4 revising provisions which require dealers who
5 paid $100,000 or more in tax in the prior year
6 to make estimated tax payments; reducing the
7 percentage used to calculate estimated tax
8 liability over a specified period and repealing
9 said percentage January 1, 2003; providing that
10 certain dealers engaged in the sale of boats,
11 motor vehicles, or aircraft may, in lieu of
12 making estimated tax payments, remit the tax
13 for sales of $100,000 or more within a
14 specified period; providing an effective date.
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16 Be It Enacted by the Legislature of the State of Florida:
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18 Section 1. Paragraph (a) of subsection (1) and
19 subsection (4) of section 212.11, Florida Statutes, 1996
20 Supplement, are amended to read:
21 212.11 Tax returns and regulations.--
22 (1)(a)1. Each dealer shall calculate his or her
23 estimated tax liability for any month by one of the following
24 methods:
25 a.1. Sixty-six percent of the current month's
26 liability pursuant to this part as shown on the tax return;
27 b.2. Sixty-six percent of the tax reported on the tax
28 return pursuant to this part by a dealer for the taxable
29 transactions occurring during the corresponding month of the
30 preceding calendar year; or
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Florida House of Representatives - 1997 HB 529
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1 c.3. Sixty-six percent of the average tax liability
2 pursuant to this part for those months during the preceding
3 calendar year in which the dealer reported taxable
4 transactions.
5 2. The 66 percent rate provided in subparagraph 1.
6 shall be reduced over a period of 5 years beginning January 1,
7 1998, and is repealed January 1, 2003. During this period,
8 the following rates shall apply:
9 a. From January 1, 1998, through December 31, 1998,
10 the rate shall be 50 percent.
11 b. From January 1, 1999, through December 31, 1999,
12 the rate shall be 40 percent.
13 c. From January 1, 2000, through December 31, 2000,
14 the rate shall be 30 percent.
15 d. From January 1, 2001, through December 31, 2001,
16 the rate shall be 20 percent.
17 e. From January 1, 2002, through December 31, 2002,
18 the rate shall be 10 percent.
19 (4)(a) Each dealer who is subject to the tax imposed
20 by this part and who paid such tax for the preceding state
21 fiscal year in an amount greater than or equal to $100,000
22 shall calculate the amount of estimated tax due pursuant to
23 this section for any month as provided in paragraph (1)(a).
24 (b) The amount of any estimated tax shall be due,
25 payable, and remitted by electronic funds transfer by the 20th
26 day of the month for which it is estimated. The difference
27 between the amount of estimated tax paid and the actual amount
28 of tax due under this part for such month shall be due and
29 payable by the first day of the following month and remitted
30 by electronic funds transfer by the 20th day thereof.
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Florida House of Representatives - 1997 HB 529
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1 (c) Any dealer who is eligible to file a consolidated
2 return and who paid the tax imposed by this part for the
3 immediately preceding state fiscal year in an amount greater
4 than or equal to $100,000 or would have paid the tax in such
5 amount if he or she had filed a consolidated return shall be
6 subject to the provisions of this subsection notwithstanding
7 an election by the dealer in any month to file a separate
8 return.
9 (d)1. A dealer who is engaged in the business of
10 selling boats, motor vehicles, or aircraft may, in lieu of
11 making estimated tax payments as required by this subsection,
12 remit the tax at the time of sale with respect to the sale of
13 each boat, motor vehicle, or aircraft sold for a sales price
14 of $100,000 or greater.
15 2. In order to qualify for this remittance procedure,
16 a boat, motor vehicle, or aircraft dealer must have remitted
17 sales tax for the preceding state fiscal year in an amount
18 greater than or equal to $100,000 per business location.
19 3. The tax shall be remitted either by electronic
20 funds transfer no later than 3 business days after the date of
21 the sale or on a form prescribed by the department and
22 postmarked no later than 3 business days after the date of the
23 sale.
24 (e)(d) The penalty provisions of this part, except s.
25 212.12(2)(c), apply to the provisions of this subsection.
26 Section 2. This act shall take effect July 1, 1997.
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Florida House of Representatives - 1997 HB 529
580-103A-97
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2 HOUSE SUMMARY
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Revises provisions which require sales tax dealers who
4 paid $100,000 or more in tax in the prior year to make
estimated tax payments. Reduces the percentage used to
5 calculate estimated tax liability over a 5-year period
and repeals said percentage January 1, 2003. Provides
6 that certain dealers engaged in the sale of boats, motor
vehicles, or aircraft may, in lieu of making estimated
7 tax payments, remit the tax for sales of $100,000 or more
no later than 3 business days after the sale.
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