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| Source: State
of Florida Department of Revenue |
| Source Update: February, 2008 |
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| Description:
The Florida Department of Revenue (DOR) administers Florida's Sales and Use Tax. Retail
establishments file monthly tax returns with DOR reporting gross sales, taxable sales and sales
tax collected. The tax applies to retail sales of goods with major exemptions for food for later
consumption, medical supplies and residential utilities.
Most services are not taxed. DOR estimates that taxable sales account for 40% to 45%
of all retail sales. Monthly data are subject to large fluctuations due to seasonality and random
variation. When examining monthly data it is important to know that DOR reported data actually
reflects the sales of the previous month. For example, January DOR sales data reflect sales that
occurred in December, the peak sales month of the year. Annual data avoids monthly volatility.
Taxable sales data are more commonly quoted than gross sales data (these data include exempt sales).
Retail sales are very sensitive to the business cycle and consumer confidence.
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