The purpose of the proposed amendments to Rule 12C-1.013, F.A.C., is to incorporate statutory changes made to Florida Corporate Income Tax by Chapter 2018-119, L.O.F., and to address the effect that the repeal of the federal corporate Alternative ...

 

DEPARTMENT OF REVENUE

Corporate, Estate and Intangible Tax

RULE NO.:RULE TITLE:

12C-1.013Adjusted Federal Income Defined

12C-1.0155Sales Factor for Apportionment

12C-1.0191Capital Investment Tax Credit Program

12C-1.034Special Rules Relating to Estimated Tax

12C-1.051Forms

PURPOSE AND EFFECT: The purpose of the proposed amendments to Rule 12C-1.013, F.A.C., is to incorporate statutory changes made to Florida Corporate Income Tax by Chapter 2018-119, L.O.F., and to address the effect that the repeal of the federal corporate Alternative Minimum Tax made by the Tax Cuts and Jobs Act, Public Law 115-97, will have on Florida Alternative Minimum Tax.

The purpose of the proposed amendments to Rule 12C-1.0155, F.A.C., is to update an outdated statutory reference.

The purpose of the proposed amendments to Rule 12C-1.0191, F.A.C., is to clarify how a carryover arising from the capital investment tax credit should be computed.

The purpose of the proposed amendments to Rule 12C-1.034, F.A.C., is to incorporate statutory changes made to estimated corporate income tax by Sections 6 and 7, Chapter 2018-6, L.O.F.

The purpose of the proposed amendments to Rule 12C-1.051, F.A.C., is to incorporate statutory changes into six forms used to administer Florida Corporate Income Tax.

SUBJECT AREA TO BE ADDRESSED: Changes to Florida Corporate Income Tax rules and forms.

RULEMAKING AUTHORITY: 213.06(1), 220.192(7), 220.193(4), 220.196(4), 220.24, 220.34(2)(f), 220.34(3), 220.51, 1002.395(13) FS.

LAW IMPLEMENTED: 119.071(5), 212.08(5)(p), 213.21, 213.755(1), 220.02(3), 220.03(5), 220.11, 220.12, 220.13, 220.131, 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, 220.191, 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.

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: July 18, 2018, 10:00 a.m.

PLACE: 2450 Shumard Oak Boulevard, Building 1, 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 Avrett 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: Tammy Miller, 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 website at www.floridarevenue.com/rules.