FL H0887

Requires dealers to compute communications services tax using a rounding algorithm that carries to the third decimal place and rounds up to the next cent when the third decimal place is greater than four.

Mandates the rounding algorithm be applied separately to local communications services tax and to combined state communications services and gross receipts taxes.

Allows dealers flexibility to apply the rounding algorithm to combined taxes, separate tax categories, or individual line items on an invoice, provided the aggregate tax collected equals at least the amount from rounding all items together.

Prohibits the Department of Revenue from requiring dealers to use a bracket system for tax collection and removes the department's obligation to provide tax amount brackets.

Declares the act remedial and retroactively applicable effective July 1, 2011, but does not create a basis for assessing unpaid taxes or refunds for amounts paid before that date.