FL S1280

Corrects the spelling of "forgo" to replace "forego" in the dealer collection allowance election process under section 212.12, Florida Statutes.

Modifies the election process to make the collection allowance waiver election remain in effect for all subsequent reporting periods within a calendar year unless the dealer terminates it by deducting the allowance from taxes due on a filed return.

Clarifies that once a return for a reporting period is filed, the election cannot be rescinded for that specific period.

Applies the amendments to sales and use tax returns due on or after February 1, 2014, with the act taking effect January 1, 2014.