Skip to Navigation | Skip to Main Content | Skip to Site Map | Mobile Site

Senate Tracker: Sign Up | Login

The Florida Senate

HB 1057: Small Business Growth


Small Business Growth; Revises order in which credits against corporate income tax or franchise tax may be taken to include certain credits relating to corporation's execution of business contract with small business; redefines term "adjusted federal income" to include amount of such tax credits; provides tax credits for use by corporation against state corporate income tax in amount equal to specified percentage of corporation's payments to small business providing goods or services to corporation pursuant to contract; provides qualification criteria; requires business to submit application to DEO for approval to earn credits; provides application requirements; provides procedures & requirements for department approval; specifies amount of tax credit; prohibits tax credits from being carried forward or backward or being transferred or sold; provides criminal & administrative penalties for fraudulently claiming tax credits; authorizes DEO & DOR to adopt rules.

Effective Date: 1/1/2013
Last Action: 3/9/2012 House - Died in Business and Consumer Affairs Subcommittee
Bill Text: PDF

Bill History

Date Chamber Action
12/16/2011 House • Filed
12/28/2011 House • Referred to Business and Consumer Affairs Subcommittee; Rulemaking and Regulation Subcommittee; Finance and Tax Committee; Economic Affairs Committee -HJ 103
1/10/2012 House • Introduced -HJ 103
3/9/2012 House • Died in Business and Consumer Affairs Subcommittee