Florida Regulations 12A-1.089: Gift Certificates
Current as of: 2024 | Check for updates
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The sale of a gift certificate is not taxable. When the owner of a gift certificate redeems it for tangible personal property, or a part thereof, the transaction is taxable as a sale. For example, if the owner of a gift certificate valued at $25 purchases a $15 pair of shoes, tax of 90 cents must be collected by the dealer and remitted to the Department of Revenue.
Cross Reference – Rules 12A-1.004 and 12A-1.076, F.A.C.
Rulemaking Authority Florida Statutes § 212.18(2), 213.06(1) FS. Law Implemented 212.02(19), 212.05(1), 212.06(1), 212.21(2) FS. History-New 10-7-68, Amended 6-16-72, 7-20-82, Formerly 12A-1.89, Amended 12-13-88.
Cross Reference – Rules 12A-1.004 and 12A-1.076, F.A.C.
Rulemaking Authority Florida Statutes § 212.18(2), 213.06(1) FS. Law Implemented 212.02(19), 212.05(1), 212.06(1), 212.21(2) FS. History-New 10-7-68, Amended 6-16-72, 7-20-82, Formerly 12A-1.89, Amended 12-13-88.
Terms Used In Florida Regulations 12A-1.089
- Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
- Personal property: All property that is not real property.