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Dec 19, 2024

What are the key steps to register for sales tax when acquiring a business in Florida?

Ready to automate your sales tax?

Ready to automate your sales tax?

Ready to automate your sales tax?

When acquiring a business in Florida:

  1. Determine Tax Obligations: Confirm if sales tax collection is required based on business activities.

  2. Obtain FEIN: Acquire a Federal Employer Identification Number (FEIN) from the IRS if not already available.

  3. Register for Sales and Use Tax: Complete the registration online through the Florida Department of Revenue’s website or submit Form DR-1.

  4. Ensure Previous Compliance: Verify that the previous owner complied with all tax obligations to avoid liability for unpaid sales tax.

  5. Receive Sales Tax Permits: Obtain the Florida Certificate of Registration (Form DR-11) and the Florida Annual Resale Certificate for Sales Tax (Form DR-13).

  6. Understand Filing Frequencies: Comply with the assigned filing frequency based on sales volume.

  7. Maintain Accurate Records: Keep detailed records of all transactions for filings and potential audits.

  8. Stay Updated: Monitor changes in tax laws to ensure ongoing compliance.

These steps ensure smooth registration and compliance post-acquisition.

Ready to automate your sales tax?

Ready to automate your sales tax?

Ready to automate your sales tax?

Ready to automate your sales tax?