Subsection 12C-1.013(5), F.A.C. (Adjusted Federal Income Defined), reflects the provisions of Section 220.13(1)(a)1., F.S., which requires an addition to federal taxable income equal to the amount of any tax upon or measured by income for Florida ...

DEPARTMENT OF REVENUE
Corporate, Estate and Intangible Tax

Rule No. : RULE TITLE :
12C-1.013: Adjusted Federal Income Defined
PURPOSE AND EFFECT: Subsection 12C-1.013(5), F.A.C. (Adjusted Federal Income Defined), reflects the provisions of Section 220.13(1)(a)1., F.S., which requires an addition to federal taxable income equal to the amount of any tax upon or measured by income for Florida corporate income tax purposes. This rule subsection also provides that value-added taxes are not required to be added back to federal income for purposes of computing the Florida corporate income tax. The Michigan single business tax is included as an example of a value-added tax. On January 1, 2008, Michigan replaced its single business tax with a business tax based on income. The purpose of this rulemaking is to remove provisions regarding the now obsolete Michigan single business tax.
SUBJECT AREA TO BE ADDRESSED: The removal of the obsolete Michigan single business tax that was included as an example of a value-added tax that is not considered a tax upon or measured by income for purposes of Section 220.13(1)(a)1., F.S.
RULEMAKING AUTHORITY: 213.06(1), 220.51 FS.
LAW IMPLEMENTED: 220.13 FS.
A RULE DEVELOPMENT WORKSHOP WILL BE HELD AT THE DATE, TIME AND PLACE SHOWN BELOW:
DATE AND TIME: April 4, 2011, 10:00 a.m.
PLACE: 2450 Shumard Oak Boulevard, Building One, Room 2503, 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 DEVELOPMENT AND A COPY OF THE PRELIMINARY DRAFT, IF AVAILABLE, IS: Debra Gifford, Tax Law Specialist, 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.