Florida Proposed Rules
| Rule Number: | 12A-1.012 |
| Rule Title: | Repossessed Merchandise and Bad Debts |
| Next Step: | At the March 7, 2018 meeting, the Governor and Cabinet approved the Department’s request to adopt this rule. The Department will file the rule for certification with the Department of State on March 27, 2018. The rule will be effective on April 16, 2018. |
| |
| Certification Package: |
March 27, 2018 |
| JAPC Certification: |
March 23, 2018 |
| Certification Letter to JAPC: |
March 15, 2018 |
| Cabinet Meeting for Adoption: |
March 7, 2018 |
| Notice of Public Meeting - Cabinet for Adoption:
|
February 26, 2018 (Vol. 44, No. 39, pp. 928-929) |
| Letter to JAPC: |
February 21, 2018 |
| Notice of Change: |
February 20, 2018 (Vol. 44, No. 35, p. 837) |
| Letter from JAPC: |
February 19, 2018 |
| Letter from JAPC: |
January 30, 2018 |
| Hearing Information: |
February 7, 2018 |
| Package filed with JAPC: |
January 18, 2018 |
| Notice of Proposed Rule |
January 16, 2018 (Vol. 44, No. 10, pp. 202-205) |
| Cabinet Meeting for Hearing: |
December 13, 2017 |
| Notice of Public Meeting - Cabinet for Hearing: |
December 5, 2017 (Vol. 43, No. 233, pp.5473-5474) |
| Workshop Information: | November 16, 2017
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| Draft Rule Language: |
November 16, 2017 |
| Notice of Rule Development: |
November 2, 2017 (Vol. 43, No. 213, pp. 4943 – 4944) |
Purpose:
The purpose of the proposed amendments to Rule 12A-1.012, F.A.C., is to: (1) remove the recitation of statutory provisions regarding the taxability of sales made on any kind of deferred payment plan; (2) clarify that the repossession and redemption of tangible personal property is not subject to tax; (3) consolidate provisions for obtaining a credit or refund of tax paid on repossessed items, including motor vehicles; (4) clarify when a tax credit or refund may be obtained by a dealer who sold property that is subsequently repossessed when the dealer holds a security interest in the property by contract; (5) provide how to obtain a refund or credit of tax paid on repossessed tangible personal property and the information and documentation required to establish the right to a refund or credit; and (6) remove unnecessary provisions for dealers that obtain payment from a common carrier for damages of items sold by the dealer.
