Bill Text: FL S0502 | 2018 | Regular Session | Introduced
NOTE: There are more recent revisions of this legislation. Read Latest Draft
Bill Title: Corporate Income Tax
Spectrum: Bipartisan Bill
Status: (Introduced - Dead) 2018-03-08 - Laid on Table, refer to HB 7093 [S0502 Detail]
Download: Florida-2018-S0502-Introduced.html
Bill Title: Corporate Income Tax
Spectrum: Bipartisan Bill
Status: (Introduced - Dead) 2018-03-08 - Laid on Table, refer to HB 7093 [S0502 Detail]
Download: Florida-2018-S0502-Introduced.html
Florida Senate - 2018 SB 502 By Senator Stargel 22-00750-18 2018502__ 1 A bill to be entitled 2 An act relating to the corporate income tax; amending 3 s. 220.03, F.S.; adopting the 2018 version of the 4 Internal Revenue Code; providing retroactive 5 operation; providing an effective date. 6 7 Be It Enacted by the Legislature of the State of Florida: 8 9 Section 1. Paragraph (n) of subsection (1) and paragraph 10 (c) of subsection (2) of section 220.03, Florida Statutes, are 11 amended to read: 12 220.03 Definitions.— 13 (1) SPECIFIC TERMS.—When used in this code, and when not 14 otherwise distinctly expressed or manifestly incompatible with 15 the intent thereof, the following terms shall have the following 16 meanings: 17 (n) “Internal Revenue Code” means the United States 18 Internal Revenue Code of 1986, as amended and in effect on 19 January 1, 20182017, except as provided in subsection (3). 20 (2) DEFINITIONAL RULES.—When used in this code and neither 21 otherwise distinctly expressed nor manifestly incompatible with 22 the intent thereof: 23 (c) Any term used in this code has the same meaning as when 24 used in a comparable context in the Internal Revenue Code and 25 other statutes of the United States relating to federal income 26 taxes, as such code and statutes are in effect on January 1, 27 20182017. However, if subsection (3) is implemented, the 28 meaning of a term shall be taken at the time the term is applied 29 under this code. 30 Section 2. This act shall take effect upon becoming a law 31 and operate retroactively to January 1, 2018.