The purpose of the proposed amendments to Rule 12C-1.0196, F.A.C. (Research and Development Tax Credit), are to clarify the application process for eligible corporate partners, provide guidance to businesses that have timely challenged a Department ...

 

DEPARTMENT OF REVENUE

Corporate, Estate and Intangible Tax

RULE NO.:RULE TITLE:

12C-1.0196Research and Development Tax Credit

PURPOSE AND EFFECT: The purpose of the proposed amendments to Rule 12C-1.0196, F.A.C. (Research and Development Tax Credit), are to clarify the application process for eligible corporate partners, provide guidance to businesses that have timely challenged a Department of Economic Opportunity (“DEO”) refusal to issue a certification letter, clarify the Department’s review and allocation process for applications which require appeal to DEO, and provide an explanation of the impact on the allocated credit amount when the credit applied for is understated or overstated.

SUBJECT AREA TO BE ADDRESSED: The subject area of the rule development workshop is the proposed changes to Rule 12C-1.0196, F.A.C.

RULEMAKING AUTHORITY: 213.06(1), 220.196(4), 220.51 FS.

LAW IMPLEMENTED: 220.196 FS.

IF REQUESTED IN WRITING AND NOT DEEMED UNNECESSARY BY THE AGENCY HEAD, A RULE DEVELOPMENT WORKSHOP WILL BE HELD AT THE DATE, TIME AND PLACE SHOWN BELOW:

DATE AND TIME: November 22, 2016, 9:00 a.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: Becky Nall 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 DEVELOPMENT AND A COPY OF THE PRELIMINARY DRAFT, IF AVAILABLE, IS: Jennifer Ensley, Technical Assistance and Dispute Resolution, Department of Revenue, P.O. Box 7443, Tallahassee, Florida 32314-7443, telephone: [phone].

THE PRELIMINARY TEXT OF THE PROPOSED RULE DEVELOPMENT IS: Published on the Department’s Internet site at myflorida.com/dor/rules.