The purpose of the proposed amendments to Rule 12C-1.051, F.A.C. (Forms), is to adopt, by reference, changes to forms used by the Department in the administration of the corporate income tax.

 

DEPARTMENT OF REVENUE

Corporate, Estate and Intangible Tax

RULE NO.:RULE TITLE:

12C-1.051Forms

PURPOSE AND EFFECT: The purpose of the proposed amendments to Rule 12C-1.051, F.A.C. (Forms), is to adopt, by reference, changes to forms used by the Department in the administration of the corporate income tax.

SUMMARY: The proposed amendments to Rule 12C-1.051, F.A.C. (Forms), adopts, by reference, changes to forms used by the Department in the administration the corporate income tax to include the increase in the exemption from $25,000 to $50,000.

SUMMARY OF STATEMENT OF ESTIMATED REGULATORY COSTS AND LEGISLATIVE RATIFICATION:

The Agency has determined that this will not have an adverse impact on small business or likely increase directly or indirectly regulatory costs in excess of $200,000 in the aggregate within one year after the implementation of the rule. A SERC has not been prepared by the agency.

The Agency has determined that the proposed rule is not expected to require legislative ratification based on the statement of estimated regulatory costs or if no SERC is required, the information expressly relied upon and described herein: 1) no requirement for the Statement of Economic Regulatory Costs (SERC) was triggered under Section 120.541(1), F.S.; and 2) based on past experiences with activities for providing the public with updates to tax returns and instructions and rules of this nature, the adverse impact or regulatory cost, if any, do not exceed nor would exceed any one of the economic analysis criteria in a SERC, as set forth in Section 120.541(2)(a), F.S.

Any person who wishes to provide information regarding a statement of estimated regulatory costs, or provide a proposal for a lower cost regulatory alternative must do so in writing within 21 days of this notice.

RULEMAKING AUTHORITY: 213.06(1), 220.192(7), 220.193(4), 220.196(4), 220.51, 1002.395(13) FS.

LAW IMPLEMENTED: 119.071(5), 212.08(5)(p), 213.755(1), 220.11, 220.12, 220.13(1), (2), 220.15, 220.16, 220.181, 220.182, 220.183, 220.184, 220.1845, 220.185, 220.186, 220.1875, 220.1895, 220.1896, 220.1899, 220.19, 220.191, 220.192, 220.193, 220.194, 220.195, 220.196, 220.21, 220.211, 220.22, 220.221, 220.222, 220.23, 220.24, 220.241, 220.31, 220.32, 220.33, 220.34, 220.41, 220.42, 220.43, 220.44, 220.51, 220.721, 220.723, 220.725, 220.737, 220.801, 220.803, 220.805, 220.807, 220.809, 221.04, 624.5105, 624.51055, 1002.395 FS.

A HEARING WILL BE HELD AT THE DATE, TIME AND PLACE SHOWN BELOW:

DATE AND TIME: November 13, 2013, 2:00 p.m.

PLACE: 2450 Shumard Oak Boulevard, Building One, Room 1220, Tallahassee, Florida

Pursuant to the provisions of the Americans with Disabilities Act, any person requiring special accommodations to participate in this workshop/meeting is asked to advise the agency at least 48 hours before the workshop/meeting by contacting: Tammy Miller at [phone]. If you are hearing or speech impaired, please contact the agency using the Florida Relay Service, 1(800)955-8771 (TDD) or 1(800)955-8770 (Voice).

THE PERSON TO BE CONTACTED REGARDING THE PROPOSED RULE IS: Jennifer Ensley, Senior Tax Specialist, Technical Assistance and Dispute Resolution, Department of Revenue, P. O. Box 7443, Tallahassee, Florida 32314-7443, telephone: [phone]

 

THE FULL TEXT OF THE PROPOSED RULE IS:

 

12C-1.051 Forms.

(1)(a) The following forms and instructions are used by the Department in its administration of the corporate income tax and franchise tax. These forms are hereby incorporated by reference in this rule.

(b) No change.

Form NumberTitleEffective Date

(2) No change.

(3)(a) F-1065Florida Partnership Information Return (R. 01/14 01/13)___ 01/13

(http://www.flrules.org/Gateway/reference.asp?No=Ref-___ 02101)

(b) F-1065NInstructions for Preparing Form F-1065 Florida Partnership

Information Return (R. 01/14 01/13)___ 01/13

(http://www.flrules.org/Gateway/reference.asp?No=Ref-___ 02102)

(4) F-1120AFlorida Corporate Short Form Income Tax Return (R. 01/14 01/13)              ___ 01/13

(http://www.flrules.org/Gateway/reference.asp?No=Ref-___ 02104)

(5)(a) F-1120Florida Corporate Income/Franchise Tax Return (R. 01/14 01/13)___ 01/13

(http://www.flrules.org/Gateway/reference.asp?No=Ref-___ 02103)

(b) F-1120NF-1120 Instructions – Corporate Income/Franchise Tax Return for

Taxable years beginning on or after January 1, 2013 2012

(R. 01/14 01/13)___ 01/13

(http://www.flrules.org/Gateway/reference.asp?No=Ref-___ 02106)

(6) F-1120ESDeclaration/Installment of Florida Estimated Income/Franchise

Tax for Taxable Year Beginning on or after January 1, 2013

(R. 01/14 01/13)___ 01/13

(http://www.flrules.org/Gateway/reference.asp?No=Ref-___ 02105)

(7) through (9) No change.

(10)(a) F-1158ZEnterprise Zone Property Tax Credit (R. 08/13 01/09)___ 01/09

(http://www.flrules.org/Gateway/reference.asp?No=Ref- )

(b) F-1158ZNInstructions for Florida Form F-1158Z Enterprise Zone

Property Tax Credit (R. 08/13 01/09)___ 01/09

(http://www.flrules.org/Gateway/reference.asp?No=Ref- )

(11) No change.

(12) F-2220Underpayment of Estimated Tax on Florida Corporate

Income/Franchise Tax (R. 01/14 01/13)___ 01/13

(http://www.flrules.org/Gateway/reference.asp?No=Ref-___ 02111)

(13) F-7004Florida Tentative Income/Franchise Tax Return and Application

for Extension of Time to File Return (R. 01/14 01/13)___ 01/13

(http://www.flrules.org/Gateway/reference.asp?No=Ref-___ 02112)

Rulemaking Authority 213.06(1), 220.192(7), 220.193(4), 220.196(4), 220.51, 1002.395(13) FS. Law Implemented 119.071(5), 212.08(5)(p), 213.755(1), 220.11, 220.12, 220.13(1), (2), 220.14, 220.15, 220.16, 220.181, 220.182, 220.183, 220.184, 220.1845, 220.185, 220.186, 220.1875, 220.1895, 220.1896, 220.1899, 220.19, 220.191, 220.192, 220.193, 220.194, 220.195, 220.196, 220.21, 220.211, 220.22, 220.221, 220.222, 220.23, 220.24, 220.241, 220.31, 220.32, 220.33, 220.34, 220.41, 220.42, 220.43, 220.44, 220.51, 220.721, 220.723, 220.725, 220.737, 220.801, 220.803, 220.805, 220.807, 220.809, 221.04, 624.5105, 624.51055, 1002.395 FS. History–New 9-26-77, Amended 12-18-83, Formerly 12C-1.51, Amended 12-21-88, 12-31-89, 1-31-91, 4-8-92, 12-7-92, 1-3-96, 3-18-96, 3-13-00, 6-19-01, 8-1-02, 6-19-03, 3-15-04, 9-24-04, 6-28-05, 5-1-06, 4-5-07, 1-1-08, 1-27-09, 1-11-10, 4-26-10(12)(a),(b), 4-26-10(13)(a),(b), 6-28-10, 1-12-11, 6-6-11, 1-25-12, 1-17-13,_________.

 

NAME OF PERSON ORIGINATING PROPOSED RULE: Jennifer Ensley, Senior Tax Specialist, Technical Assistance and Dispute Resolution, Department of Revenue, P. O. Box 7443, Tallahassee, Florida 32314-7443, telephone: [phone]

NAME OF AGENCY HEAD WHO APPROVED THE PROPOSED RULE: Governor and Cabinet

DATE PROPOSED RULE APPROVED BY AGENCY HEAD: September 24, 2013

DATE NOTICE OF PROPOSED RULE DEVELOPMENT PUBLISHED IN FAR: A Notice of Proposed Rule Development was published in the Florida Administrative Register on August 2, 2013 (Vol. 39, No. 150, pp. 3827 - 3828), to advise the public of the proposed amendments to Rule 12C-1.051, F.A.C. (Forms), and to provide that, if requested in writing, a rule development workshop would be held on August 22, 2013. No request was received by the Department. No written comments were received by the Department.