SB 430 Summary: Streamlined Sales and Use Tax Agreement

• Implements Florida's participation in the Streamlined Sales and Use Tax (SSUTA) Agreement to simplify and modernize sales tax administration, effective January 1, 2013.

• Eliminates tax brackets for calculating sales and use taxes, requiring dealers to compute tax using rounding methods instead (carrying to third decimal place and rounding to nearest whole cent).

• Expands definitions and taxability standards for food products, medical items, and bundled transactions to conform with SSUTA standards; creates new exemptions for dietary supplements, bottled water, and certain medical devices.

• Authorizes the Department of Revenue to establish collection allowances for certified service providers, create a taxability matrix for dealer guidance, and provide amnesty for uncollected taxes by sellers registering under the SSUTA.

• Modifies surtax administration by establishing April 1 effective dates for all rate changes, revises sourcing rules for discretionary sales taxes based on delivery location, and repeals provisions relating to mail-order sales taxation.