Purpose


The purpose of the proposed amendments to Part I (Electronic Funds Transfer and Return Submission) of Rule Chapter 12-24, F.A.C. (Payment of Taxes and Submission of Returns by Electronic Means; Taxpayer Recordkeeping and Retention Requirements), is to: (1) incorporate the provisions of Sections 14 and 30, Chapter 2007-106, L.O.F., which lower the annual threshold from $30,000 or more annually in tax to $20,000 or more annually in tax (for communications services tax, $50,000 to $20,000); (2) incorporate the provisions of Sections 30-32, Chapter 2007-106, L.O.F., which require those corporations that are required to file their federal income tax returns electronically to file their Florida corporate income tax returns with the Department electronically; and (3) update the list of taxes, surtaxes, surcharges, and fees for which the Department is requiring electronic tax payments and returns.