Completing the Florida Department of Revenue Sales and Use Tax Return; DR-15EZ
Almost all tangible sales generated to Florida customers within the state of Florida are subject to taxation of sales and use tax. Currently there are two forms to remit the collected tax, DR-15R and DR-15EZ. The DR-15R is used primarly by dealers that have multiple business activities and/or conduct business in various Florida counties. The DR-15EZ is used primarly by dealers that have one business activity (ie commercial or transient rental) and/or conduct business in just one Florida county. The completion of the DR-15EZ is done as follows:
All sales (those that were taxed and those that were not taxed) made during the collection period which is being reported are to be entered on line 1 (gross sales). All sales that were not subject to tax are to be entered on line 2 (exempt sales). The difference between line 1 and line 2 is to be entered on line 3 (taxabale amount). Line 3 is to also include any purchases that were made by the dealer for the use of the business (not being resold) in which no sales tax was paid. Common examples are internet and out of state purchases.
To calculate line 4 (tax amount collect); multiply line 3 by the current Florida state rate and the business location’s county surtax rate. Surtax, also called discretionary, rated vary by county ranging from 0 to 1.5%. If there are any lawful deductions to be claimed (ie refunded tax which was paid on a prior return), enter amount on line 5. If there are any credit memos to be claimed (notices from the Florida Department of Revenue providing a credit amount), enter amount of line 6. Line 5 and 6 combined cannot exceed amount of line 4 – any overage will need to be applied towards future returns.
Add lines 6 and 5 together, and subtract that total from line 4 and enter resultant amount on line 7 (subtotal tax amount due). Timely returns are allowed a collection allowance of 2.5% of the subtotal tax due (line 7), with a maximum of $30.00. Late returns are subject to a penalty of 10% of the tax due with a minimum of $50.00. The collection allowance or the penalty is to be entered on line 8. (Beginning June 2012 - paper filer will not be allowed the collection allowance but electronic filers will be allowed the collection allowance). Florida has a floating interest rate which changes midyear, the current and prior years interest rates can be viewed at their website: www.myflorida.com/dor. Interest is calculate by multiplying the tax amount due, by the number of days late, times the daily interest factor. Interest is to be entered on line 8 as well. If filing a timely return, subtract the collection allowance (line 8) from the subtotal of tax due (line 7) *as of 07/01/12, the collection allowance is available to online filers only. Click here for online enrollment instructions* and enter difference on line 9 (total amount due with return). If return is being filed late add penalty and interest (line 8) to the subtotal of tax due (line 7) and enter amount on line 0 (total amount of tax due).
Sales that were made to a county that has no surtax needs to be entered on line A. These sales will be multiplied only by 6% to calculate total amount of tax collected (which should already be included on line 3). All sales that were subject to surtax (discretionary tax) needs to be multiplied by the counties surtax (discretionary) tax rate and entered on line B.
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