Florida has issued a technical Assistance Advisement stating that store credits issued in cards or paper form for use on a subsequent purchase are not excluded from Florida sales and use tax. The taxpayer believed that the trade-ins are taken at the time of sale as required in the Florida statute. However, it was determined that a subsequent purchase assumes that at the time of the trade-in, the customer has not identified, nor possessed, tangible personal property. Therefore, the future sale has not been executed at the time of the trade-in when the cards or paper credits are issued. It was further noted that the trade-in credits are analogous to a gift certificate or cash equivalent which is included in the sales price subject to tax. (Technical Assistance Advisement, No. 09A-038, Florida Department of Revenue, July 21, 2009)