The purpose of the proposed amendments to Rule 12C-1.013, F.A.C. (Adjusted Federal Income Defined), is to remove provisions that were held invalid by the First District Court of Appeal in Golden West Financial Corp. et al. v. Fla. Dept. of Revenue, 975 So. 2d 567 (1st Fla. DCA Feb. 19, 2008). Pursuant to this decision, corporations are permitted to share Florida net operating loss carryovers on a consolidated return. Section 220.68, F.S., previously allowed financial organizations to take a credit for the amount of intangible tax paid against the amount of the franchise tax due. Section 8, Chapter 98-132, L.O.F., provides that the tax credit is no longer available for tax years beginning after December 31, 1999. The repeal of Rule 12C-1.068, F.A.C. (Intangible Tax Credit; Additional Tax Due), will remove the rule provisions regarding this tax credit.