| 1 | A bill to be entitled |
| 2 | An act relating to payment card transaction exactions; |
| 3 | amending s. 212.17, F.S.; authorizing certain dealers to |
| 4 | take a credit for taxes paid on the percentage of tax not |
| 5 | reimbursed to the dealer as a result of issuer fees or |
| 6 | deductions; specifying conditions and the amount of the |
| 7 | credit; providing a return requirement; exempting locally |
| 8 | imposed and self-administered convention development |
| 9 | taxes, tourist development taxes, or tourist impact taxes; |
| 10 | providing an effective date. |
| 11 |
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| 12 | Be It Enacted by the Legislature of the State of Florida: |
| 13 |
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| 14 | Section 1. Subsections (4) through (7) of section 212.17, |
| 15 | Florida Statutes, are renumbered as subsections (5) through (8), |
| 16 | respectively, and a new subsection (4) is added to that section |
| 17 | to read: |
| 18 | 212.17 Credits for returned goods, rentals, or admissions; |
| 19 | goods acquired for dealer's own use and subsequently resold; |
| 20 | additional powers of department.-- |
| 21 | (4)(a) A dealer that has paid the tax imposed by this |
| 22 | chapter may take a credit on its sales and use tax return for |
| 23 | the tax paid by the dealer on the percentage of tax not |
| 24 | reimbursed due to any fee charged or deducted from a payment |
| 25 | card sale to the dealer by an issuer of a payment card for |
| 26 | processing the payment card transaction. The credit shall be |
| 27 | equal to the percentage of the payment card fee multiplied by |
| 28 | the amount of tax of each payment card transaction. The amount |
| 29 | of the credit is limited to the amount owed on that tax return |
| 30 | and shall not be carried forward. A dealer may only obtain a |
| 31 | credit and may not apply for a refund. |
| 32 | (b) This subsection applies to all taxes, surtaxes, and |
| 33 | any local option taxes administered under this chapter and |
| 34 | remitted directly to the department. This subsection does not |
| 35 | apply to any locally imposed and self-administered convention |
| 36 | development tax, tourist development tax, or tourist impact tax |
| 37 | administered under this chapter. |
| 38 | Section 2. This act shall take effect July 1, 2007. |