For purposes of determining whether a person is engaged in the business of check cashing for which registration is required the following formula will be applied:

Compensation for Check Cashing/Foreign Currency Exchange

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Gross Income + Compensation for Check

Cashing/Foreign Currency Exchange

“Gross Income” means Gross Revenue (Sales) – Cost of Goods Sold.

Rulemaking Authority 560.105 FS. Law Implemented 560.304(2) FS. History–New 9-14-04, Amended 1-13-09.