The Florida Senate

220.22  Returns; filing requirement.--

(1)  A return with respect to the tax imposed by this code shall be made by every taxpayer for each taxable year in which such taxpayer either is liable for tax under this code or is required to make a federal income tax return, regardless of whether such taxpayer is liable for tax under this code.

(2)  Every Florida partnership having any partner subject to tax under this code, shall make an information return setting forth:

(a)  All items of income, gain, loss, and deduction;

(b)  The names and addresses of all partners subject to tax hereunder who would be entitled to share in the net income of the partnership if distributed;

(c)  The amount and proportion of the distributive share of each partner-taxpayer; and

(d)  Such other pertinent information as the department may by form or regulation prescribe.

(3)  Whenever a receiver, trustee in bankruptcy, or assignee, by order of law or otherwise, has possession of or holds title to all or substantially all of the property or business of a taxpayer, whether or not such property or business is being operated, such receiver, trustee, or assignee shall make the returns and notices required of such taxpayer.

¹(4)  For the year in which an election is made pursuant to s. 1361(b)(3) of the Internal Revenue Code, the qualified subchapter S subsidiary shall file an informational return with the department, which return shall be restricted to information identifying the subsidiary, the electing S corporation parent, and the effective date of the election.

History.--s. 1, ch. 71-984; s. 3, ch. 98-100; s. 8, ch. 98-101.

¹Note.--

A.  Section 4, ch. 98-100, provides that "[t]he provisions of sections 2 and 3 are intended to clarify the intent of the Legislature under existing law and are effective with respect to tax years beginning on or after January 1, 1997; however, no penalty shall be assessed for failure to file the information return required by section 3 if the return would have been due on or before [May 22, 1998]."

B.  Section 5, ch. 98-100, provides that "[t]his act shall take effect [May 22, 1998] and, except as otherwise provided, shall operate retroactively to January 1, 1998."

C.  Section 8(2), ch. 98-101, provides that "[t]his section shall take effect [May 22, 1998]. The provisions of this section are intended to clarify the intent of the Legislature under existing law and are effective with respect to tax years beginning on or after January 1, 1997; however, no penalty shall be assessed for failure to file the information return required by this section if the return would have been due on or before the date this act becomes a law."