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Florida on Monday enacted a new law requiring out-of-state online merchants to collect and remit sales tax, which supporters say will bring in an additional $1 billion a year that previously went ...
Type of Tax. Tax Rate Range. General sales tax. 6%. State income tax. 0%. Corporate income tax. 5.5%. Average Florida property tax. 0.91%
The last impediment to national firms practicing public accounting in Florida was the requirement that all partners be CPAs, limiting the ability for firms with Tax and Consulting partners who were not licensed CPAs. in 1997, the Board of Accountancy Act was amended to require only a majority of partners be licensed CPAs.
In an editorial published on 7 March 2011 the Hutchinson News of Kansas wrote, "Kansas has been wise to be among 24 states that are part of the Streamlined Sales and Use Tax Agreement. These states have made their sales tax rules and definitions uniform, creating an environment in which retailers can collect taxes on remote sales to these states.
Until the mid-1990s, the Uniform CPA Exam was 19.5 hours in duration and was administered over two and one-half days. It consisted of four subject areas (sections) which were tested in five sittings: Auditing (3.5 hours); Business Law (3.5 hours); Accounting Theory (3.5 hours); and Accounting Practice (Part I & Part II; 4.5 hours each).
The FICPA was founded in 1905. [5] Walter Mucklow, T.G. Hutchinson and two other Florida accountants envisioned an association that would promote the exchange of ideas, enhance confidence in public accountants among businessmen, and encourage a high standard of efficiency in the science of accounting and the art of bookkeeping.
The Florida Constitution, in Article V, Section 2(a), vests the power to adopt rules for the "practice and procedure in all courts" in the Florida Supreme Court, which has adopted the Florida Rules of Civil Procedure. Although Title VI of the Florida Statutes is labeled "Civil Practice and Procedure", the statutes it contains are limited to ...
The use tax, like the sales tax, is assessed upon the end consumer of the tangible property or service, but the difference is who calculates the tax and how it is accounted for. The sales tax is collected by the seller, who is acting as an agent of the state and thus remits the tax to the state on behalf of the end consumer.