FL S0966

Replaces the previous bracketed tax calculation system with a simple method of multiplying the total price by 6 percent or, if applicable, by 6 percent plus the county discretionary sales surtax rate.

Requires tax amounts to be rounded down to the nearest whole cent when the calculation results in a fraction of a cent.

Removes detailed tax bracket tables that previously applied different tax amounts based on sales price ranges for transactions at the 6 percent rate and 7 percent rate in counties with discretionary surtaxes.

Updates cross-references in sections 212.04, 212.05, and 212.0506 to direct taxpayers to calculate tax under section 212.12 rather than referencing specific brackets.

Takes effect July 1, 2014.