Senate Bill 1918

    Florida Senate - 1999                                  SB 1918

    By Senator Sebesta





    20-845A-99

  1                      A bill to be entitled

  2         An act relating to the tax on sales, use, and

  3         other transactions; amending s. 212.17, F.S.;

  4         describing circumstances in which a dealer who

  5         has paid the tax imposed by this chapter on

  6         tangible personal property or services may take

  7         a credit or obtain a refund for tax paid on the

  8         unpaid balance due on worthless accounts;

  9         providing legislative intent; providing an

10         effective date.

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12  Be It Enacted by the Legislature of the State of Florida:

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14         Section 1.  Subsection (3) of section 212.17, Florida

15  Statutes, 1998 Supplement, is amended to read:

16         212.17  Credits for returned goods, rentals, or

17  admissions; goods acquired for dealer's own use and

18  subsequently resold; additional powers of department.--

19         (3)  A dealer who has paid the tax imposed by this

20  chapter on tangible personal property or services may take a

21  credit or obtain a refund for any tax paid by the dealer on

22  the unpaid balance due on worthless accounts within 12 months

23  following the month in which the bad debt has been charged off

24  for federal income tax purposes by the dealer or by the person

25  who owns the retail account pursuant to a private-label credit

26  card agreement with the dealer. If any accounts so charged off

27  for which a credit or refund has been obtained are thereafter

28  in whole or in part paid to the dealer, the amount so paid

29  shall be included in the first return filed after such

30  collection and the tax paid accordingly.

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CODING: Words stricken are deletions; words underlined are additions.






    Florida Senate - 1999                                  SB 1918
    20-845A-99




  1         Section 2.  It is the intent of the Legislature that

  2  the amendment to section 212.17(3), Florida Statutes, 1998

  3  Supplement, which is made by section 1 of this act, clarifies

  4  and confirms existing law with respect to refunds and credits

  5  allowable under that subsection.

  6         Section 3.  This act shall take effect upon becoming a

  7  law.

  8

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10                          SENATE SUMMARY

11    Provides that a dealer who has paid the tax imposed by
      ch. 212, F.S., on tangible personal property or services
12    may take a credit or obtain a refund for any tax paid by
      the dealer on the unpaid balance due on worthless
13    accounts within 12 months after the bad debt has been
      charged off for federal income tax purposes by the dealer
14    or by a person who owns the retail account under a
      private-label credit card agreement with the dealer.
15    Provides that the Legislature intends this amendment to
      clarify and confirm existing law.
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