(1) Donations of taxable tangible personal property made to any person, to a federal or state governmental unit, or to any religious, educational or charitable institution are exempt; however, the donor is required to pay tax on the acquisition cost of the tangible personal property since the donor is the consumer thereof, unless the donor is an exempt entity under Florida Statutes Chapter 212
    (2)(a) Merchandise exchanged for radio or TV advertising time is taxable. Where the regular rates for the radio or TV time exceeds the retail selling price of the merchandise contributed, the tax is due on the retail value of the merchandise, and is collectible by the merchant purchasing the advertising time.
    (b) Where the regular rate for advertising time is less than the selling price of the merchandise, but is equal to or greater than the merchant’s cost, tax shall be computed on the value of the advertising time, and in no instance shall the tax be an amount less than the merchant’s cost of such merchandise.
    (3) Tangible personal property purchased by banks or other financial institutions to be given away or discounted to a customer based upon the amount of his deposits is taxable at the time of purchase by the bank or institution. No tax should be collected on any consideration received from the depositor.
Rulemaking Authority Florida Statutes § 212.18(2), 213.06(1) FS. Law Implemented 212.02(14)(a), (15), (16), (20), (21), 212.05(1), 212.06(1)(a), 212.07(8) FS. History-New 10-7-68, Amended 6-16-72, 12-11-74, 10-18-78, Formerly 12A-1.77.