Florida’s Hope Scholarship program becomes effective October 1, 2018, and FADA is working to help you prepare. As a reminder, purchasers of motor vehicles in Florida will be able to donate a portion of their sales tax on new or used car/truck purchases to the Hope Scholarship program for victims of bullying and violence in public schools.
Auto dealers will now be required to collect these purchaser contributions, remit the contributions to the Scholarship program, and report the contributions to the Florida Department of Revenue (DOR).
This is the first time we have experienced such regulation on new and used car and truck dealers in Florida and FADA is currently working with the Florida DOR to make the process as dealer-friendly as possible. Please stay tuned for more news on how to comply. Dealers who fail to participate will face penalties.