FL S1198

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

Mandates separate application of the rounding algorithm to local communications services taxes versus state and gross receipts taxes, with dealers given three options for how to combine and apply the algorithm to state and gross receipts taxes.

Allows dealers to apply the rounding algorithm to either the aggregate tax on all items in an invoice or to individual items/groups, provided the total tax collected meets or exceeds what would result from rounding the full aggregate amount.

Prohibits the Department of Revenue from requiring dealers to use a bracket system for tax collection and removes the requirement that the department provide tax amounts and brackets to dealers.

Designates the act as remedial and retroactive effective July 1, 2011, but prevents it from being used as a basis for assessing unpaid taxes or claiming refunds for taxes paid before that date.