As we head into the fall, we want to make sure you and your dealerships are up to date on important information that affects your business. In this edition, you will find a reminder about the net selling price, a regional update from Gary Konopka, DMV updates, and a schedule of our upcoming dealer classes. As always, if my office can ever be of assistance, please let us know.
Diane Nelson, CFC
Pinellas County Tax Collector
Net Selling Price
By Patti Carlson, Agency Administrator, South County Office
As a reminder, dealers, license plate agents and EFS vendors will be required to enter the net selling price on form 82040 effective Oct. 1 for transactions with an acquired date of Oct. 1 and later.* The Department of Revenue has an online guide for motor vehicle dealers to use in determining how to arrive at the net (taxable) selling price of a vehicle.
Division of Motorist Services, Bureau of Motor Vehicle Field Operations
Electronic Transmission of Liens
By Jan. 1, all individuals and businesses that finance vehicles to be titled in Florida must be electronically connected to DHSMV to perfect their liens and receive titles electronically. Any lenders not connected to DHSMV by Jan. 1 risk rejection of their requests to record liens on Florida vehicle titles. This also applies to our “Buy Here/Pay Here” dealers. In the 2012 legislative session, House Bill 1223 was passed, requiring lienholders to electronically transmit liens and lien satisfactions to the department. The law requires all lenders to participate except those who are not normally engaged in financing vehicles as determined by the department. Lenders must contract with a DHSMV-approved service vendor to make the electronic lien connection with DHSMV. A list of these vendors and more information can be found at: http://www.flhsmv.gov/html/emt.htm
Garage Liability Insurance
As a reminder, when a dealer has renewed its garage liability insurance, the dealer must furnish us with a copy of the Certificate of Liability Insurance depicting the new coverage. It is the dealer’s responsibility to submit the certificate to us, not the insurance agency’s. We are allowed to accept only the Certificate of Liability Insurance as proof of the required insurance. We cannot accept declaration pages or the policy itself.
Change to Corporation or LLC
Any time an incorporated or LLC dealer makes a change -- any change –- to its corporation or LLC via www.sunbiz.org, that change must also be communicated to the regional office. The dealership must submit a modification or a corporate update application, depending on the change, to its assigned compliance officer.
Florida Statute 316.1951 deals with what is commonly called curbstoning. It authorizes local law enforcement and code compliance officers to enforce its provisions. These agencies have primary enforcement roles in enforcing curbstoning violations. Vehicles parked for sale on public rights-of-way and on property where the property owner has not granted permission are in violation of F.S. 316.1951 and are to be towed immediately at the owner’s expense, including a $100 citation. The enforcement agency issuing the citation keeps the entire $100 fine. The towing activity is not allowed to release the vehicle until proof is furnished that the $100 fine has been paid, and the individual claiming the vehicle has a legal right to the vehicle.
All franchise motor vehicle dealer licenses expire on December 31. Florida Statute 320.27 requires these dealers to submit their renewal and required supporting documents to us no later than December 3. We can begin renewing these dealer licenses on October 15. The renewal form, 86720, is available online or from our office. Remember, the renewal application must be sent to the regional office in Tampa, not Tallahassee.
FIADA's 2012 Annual Convention
Florida Independent Automobile Dealer's Association
ADP now provides an electronic library of various forms to dealers, allowing them to complete retail sales transactions. Continue reading...
What is the ELT system?
The electronic lien and title system allows lienholders to reduce the handling, storage and mailing costs associated with paper titles by replacing them with electronic titles. Lienholders who join the program will enjoy not having to:
-- Retrieve a title from a conventional file when the lien has been satisfied.
-- Physically satisfy (sign off) a lien on a title.
-- Mail a title to a customer.
-- Apply for a duplicate title to replace a lost title.