Are you being audited by the State of Florida for Utility Services? Do you owe the State of Florida this tax?
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Tax on Utility Services by the State of Florida
Tax is imposed at the rate of 2.5% on gross receipts from the sale, delivery, or transportation of natural gas, manufactured gas or electricity to a retail consumer in Florida.
Tax due on the sale or transportation of natural or manufactured gas to retail consumers in Florida is computed by multiplying the quantity sold or transported by the appropriate index prices and then applying the 2.5% gross receipts tax rate.
Index prices used by distribution companies to calculate the gross receipts tax due on the sale or transportation of natural or manufactured gas to retail consumers are adjusted yearly.
The State of Florida is actively looking to collect large tax dollars in this area in the upcoming years because of the huge tax base it represents.
Call us for a free tax consultation.