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FL S7060
Bill
AI Summary
- Eliminates authority for dealers to claim sales tax credits or refunds on unpaid balances from private-label credit card accounts that are charged off as bad debt
- Retains the general bad debt credit provision in section 212.17(3) for worthless accounts charged off within 12 months, but removes the specific procedures and definitions that applied to private-label credit card programs
- Removes requirements for apportionment methods, sampling methodologies, and the 64.4 percent recovery limitation that previously governed private-label credit card bad debt claims
- Eliminates definitions of "lender," "dealer's affiliates," and "private-label credit card" that were specific to the credit card bad debt provisions
- Takes effect July 1, 2023
Legislative Description
Taxes on Purchases Made Through Private-label Credit Card Programs
Last Action
Died in Appropriations
5/5/2023
Full Bill Text
No bill text available