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The Florida Senate

SB 1596: Corporate Income Tax

GENERAL BILL by Rodriguez

Corporate Income Tax; Revising the definition of the term “adjusted federal income” to prohibit specified deductions, to limit certain carryovers, and to require subtractions of certain amounts paid and received within a water’s edge group for the purpose of determining subtractions from taxable income; specifying circumstances under which a corporation is presumed to be, deemed to be, or deemed not to be a member of a water’s edge group; specifying requirements for, limitations on, and prohibitions in calculating and reporting income in a water’s edge group return, etc.

Effective Date: 7/1/2020
Last Action: 3/14/2020 Senate - Died in Commerce and Tourism
Bill Text: Web Page | PDF
Senate Committee References:
  1. Commerce and Tourism (CM)
  2. Finance and Tax (FT)
  3. Appropriations (AP)

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  • Bill History

    Date Chamber Action
    1/9/2020 Senate • Filed
    1/17/2020 Senate • Referred to Commerce and Tourism; Finance and Tax; Appropriations -SJ 157
    1/22/2020 Senate • Introduced -SJ 157
    3/14/2020 Senate • Indefinitely postponed and withdrawn from consideration
    • Died in Commerce and Tourism

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  • SB 1596, Original Filed Version (Current Bill Version) Posted 1/9/2020 at 10:09 AM

    Bill Text:   Web Page | PDF
    Analyses:   None

    Citations - Statutes (18)

    Citation Catchline Location in Bill Location In Bill Help
    220.03 Definitions. Page 3 (pdf)
    220.13 “Adjusted federal income” defined. Page 5 (pdf)
    220.131 Adjusted federal income; affiliated groups. Page 16 (pdf)
    220.136 Page 16 (pdf)
    220.1363 Page 17 (pdf)
    220.14 Exemption. Page 22 (pdf)
    220.15 Apportionment of adjusted federal income. Page 23 (pdf)
    220.183 Community contribution tax credit. Page 24 (pdf)
    220.1845 Contaminated site rehabilitation tax credit. Page 24 (pdf)
    220.1875 Credit for contributions to eligible nonprofit scholarship-funding organizations. Page 25 (pdf)
    220.191 Capital investment tax credit. Page 26 (pdf)
    220.193 Florida renewable energy production credit. Page 27 (pdf)
    220.27 Additional required information. Page 29 (pdf)
    220.28 Page 30 (pdf)
    220.51 Promulgation of rules and regulations. Page 32 (pdf)
    220.64 Other provisions applicable to franchise tax. Page 32 (pdf)
    288.1254 Entertainment industry financial incentive program. Page 33 (pdf)
    376.30781 Tax credits for rehabilitation of drycleaning-solvent-contaminated sites and brownfield sites in designated brownfield areas; application process; rulemaking authority; revocation authority. Page 34 (pdf)

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