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How do I handle Florida Retail Sales Tax Brackets?
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    How do I handle Florida Retail Sales Tax Brackets?

    by RetailEdge Moderator » Tue Nov 01, 2011 8:51 am

    Florida's sales tax collection system requires that you use the the bracket system when collecting sales tax. For instance if you have a 6 percent general sales tax rate and a sale total of $60.67, you are required to collect $3.65 of tax on the sale.

    If you were to calculate 6% of 60.67, you would get $3.6402 which when rounded normally would come to $3.64. However Florida needs their extra penny. This is not something new and has been a part of some tax collection agencies calculations for years.

    If your tax agency calculates tax this way, you should do the following in RetailEdge.

    1. Choose Locations from the Tools|Settings menu
    2. Modify your location settings.
    3. Press the Register Tab.
    4. Set your Sales Tax Rounding Options to: All Items Round Up.
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