FL S0704

Provides a limited exception from the 6% sales and use tax on rental or license fees for separately itemized charges for ad valorem taxes paid by the lessor, licensor, or other person.

Limits the tax exemption for ad valorem tax charges to the lesser of the actual ad valorem taxes paid to the tax collector or the ad valorem taxes delinquent on April 1 of the following calendar year.

Requires ad valorem tax charges exceeding the allowed limit to be subject to the 6% tax, remitted on the December sales and use tax return to the Department of Revenue.

Mandates that when multiple tenants or licensees occupy a single parcel or portions of property, ad valorem tax charges be calculated based on a reasonable allocation related to the real property occupied or used by each tenant or licensee.

Takes effect January 1, 2018.