Senate Bill sb1300c1

    Florida Senate - 2005                           CS for SB 1300

    By the Committee on Government Efficiency Appropriations; and
    Senator Campbell




    593-1902-05

  1                      A bill to be entitled

  2         An act relating to limitations on claims for

  3         refund of corporate income tax; amending s.

  4         220.727, F.S.; revising provisions for

  5         determining when a payment of estimated tax is

  6         deemed paid for purposes of time limitations

  7         for refund claims; providing for retroactive

  8         application; providing an effective date.

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10  Be It Enacted by the Legislature of the State of Florida:

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12         Section 1.  Paragraph (b) of subsection (1) of section

13  220.727, Florida Statutes, is amended to read:

14         220.727  Limitations on claims for refund.--

15         (1)  Except as otherwise provided in this section:

16         (b)  For purposes of this subsection, payments of

17  estimated tax shall be deemed paid either at the time the

18  taxpayer files its return under this code or at the time such

19  return is required to be filed under this code, determined

20  with without regard to any extensions of time allowed to the

21  taxpayer under s. 213.055(2) or s. 220.222 for filing such

22  return extension thereof, whichever occurs first, and not at

23  such earlier time as such payments of estimated tax were

24  actually made. This paragraph shall apply retroactively to tax

25  years beginning on or after January 1, 2001.

26         Section 2.  This act shall take effect July 1, 2005.

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    Florida Senate - 2005                           CS for SB 1300
    593-1902-05




 1          STATEMENT OF SUBSTANTIAL CHANGES CONTAINED IN
                       COMMITTEE SUBSTITUTE FOR
 2                             SB 1300

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 4  The committee substitute conforms the statute of limitations
    for refunds to the statute of limitations for assessments, and
 5  applies to tax years beginning on or after January 1, 2001.

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CODING: Words stricken are deletions; words underlined are additions.