Summary


The proposed amendments to Rule 12C-1.013, F.A.C. (Adjusted Federal Income Defined), remove paragraphs (14)(j) and (k). Under these paragraphs, corporations that incurred losses when filing on a separate Florida return basis were prohibited from sharing those losses with members of their affiliated group when electing to file on a Florida consolidated basis. The proposed repeal of Rule 12C-1.068, F.A.C. (Intangible Tax Credit; Additional Tax Due), removes the provisions regarding the tax credit previously authorized under Section 220.68, F.S., for tax years beginning on or before December 31, 1999.