Bill > S1236

This bill establishes a sales tax holiday for eligible small businesses in Florida on Small Business Saturday, which is the Saturday after Thanksgiving. A "small business" is defined as a dealer registered with the Department of Revenue, in operation by January 11, 2016, and that remitted less than $200,000 in total sales tax under chapter 212 of Florida Statutes for the year ending September 30, 2016, or for the period of operation if less than a full year. During this holiday, from 12:01 a.m. to 11:59 p.m. on November 26, 2016, these small businesses will not be required to collect sales tax on the retail sale of tangible personal property, which refers to physical goods, if the price of each item is $1,000 or less. Small businesses have the option to opt out of this exemption and continue collecting sales tax. The Department of Revenue is authorized to adopt emergency rules to implement this act, and $200,000 is appropriated from General Revenue for the department's administrative costs. The act takes effect on July 1, 2016.