Florida is the second to last state with sales and use tax obligations to impose economic nexus and marketplace facilitator laws, effective July 1, 2021.
Out-of-state sellers and marketplace providers will start collecting Florida sales and use tax on July 1, 2021. With the enactment of Senate Bill 50, Florida became the 45th jurisdiction (counting D.C., and excluding local jurisdictions) to adopt remote seller tax collection requirements pursuant to the Wayfair decision. Only one other state that imposes a sales tax, Missouri, has yet to impose sales tax obligations on out-of-state sellers without physical presence.
Beginning July 1, retailers with no physical presence in Florida must register to “do business” in the state if taxable remote sales exceed $100,000 per year. Florida did not include a transaction count threshold.
Marketplace facilitators also must collect and remit sales tax on behalf of third-party sellers if they, the facilitator, have either physical presence or taxable sales in excess of $100,000 as of July 1, 2021.
Takeaway
All except one state, Missouri, now have economic nexus and marketplace facilitator provisions, and Missouri is expected to enact legislation soon.
If a company has been hesitant to evaluate its economic nexus footprint and determine the timing of its registrations, there is no better time than now. TaxOps can help.
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