FL S1202

Creates an annual sales tax holiday for veterans on November 11 from 12:01 a.m. through 11:59 p.m., exempting sales tax on clothing and footwear priced at $60 or less per item.

Defines "veteran" as a person who served in active military, naval, or air service and was honorably discharged, or who received an upgraded honorable discharge.

Requires veterans to present proof of military status at purchase, accepting DD Forms 2, 2765, and 214, veteran health identification cards, Florida veteran identification cards for 100-percent disabled veterans, or driver licenses displaying "V" or "Veteran."

Allows retailers whose clothing sales comprise less than 5 percent of gross sales in the prior calendar year to opt out by notifying the Department of Revenue in writing by August 1 annually and posting notice at their place of business.

Requires participating retailers to report the amount of gross sales subject to the tax exemption on their sales and use tax returns.