After doing more research, I found out that the Merchant of Record (MoR) is who is responsible for collecting and remitting sales tax. And the "Collected by Itch.io, paid later" option says that Itch.io is the MoR when using that option.
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itch.io Community » itch.io » Questions & Support · Created a new topic Does Itch.io Collect and Remit Sales Tax for Florida Sellers
I'm planning on selling my first paid game on Itch.io and need to know if Itch.io handles collection and remittance of sales tax for sellers in Florida or if I am responsible for collecting and remitting sales tax myself. For reference, I will be using the "Collected by Itch.io, paid later" method. I am aware that I am responsible for paying income tax and self-employment tax, but wasn't sure if sales tax is handled for me automatically.