Bill Text: FL S1156 | 2017 | Regular Session | Comm Sub
Bill Title: Corporate Income Tax
Spectrum: Bipartisan Bill
Status: (Introduced - Dead) 2017-05-01 - Laid on Table, companion bill(s) passed, see HB 7099 (Ch. 2017-67), HB 7109 (Ch. 2017-36) [S1156 Detail]
Download: Florida-2017-S1156-Comm_Sub.html
Florida Senate - 2017 CS for SB 1156 By the Committee on Appropriations; and Senator Stargel 576-03778-17 20171156c1 1 A bill to be entitled 2 An act relating to the corporate income tax; amending 3 s. 220.03, F.S.; adopting the 2017 version of the 4 Internal Revenue Code; providing retroactive 5 applicability; amending s. 220.222, F.S.; extending 6 the extension to file a corporate return under certain 7 circumstances; providing retroactive applicability; 8 amending s. 220.33, F.S.; revising the filing date for 9 estimated tax under certain circumstances; providing 10 an effective date. 11 12 Be It Enacted by the Legislature of the State of Florida: 13 14 Section 1. Paragraph (n) of subsection (1) and paragraph 15 (c) of subsection (2) of section 220.03, Florida Statutes, are 16 amended to read: 17 220.03 Definitions.— 18 (1) SPECIFIC TERMS.—When used in this code, and when not 19 otherwise distinctly expressed or manifestly incompatible with 20 the intent thereof, the following terms shall have the following 21 meanings: 22 (n) “Internal Revenue Code” means the United States 23 Internal Revenue Code of 1986, as amended and in effect on 24 January 1, 20172016, except as provided in subsection (3). 25 (2) DEFINITIONAL RULES.—When used in this code and neither 26 otherwise distinctly expressed nor manifestly incompatible with 27 the intent thereof: 28 (c) Any term used in this code has the same meaning as when 29 used in a comparable context in the Internal Revenue Code and 30 other statutes of the United States relating to federal income 31 taxes, as such code and statutes are in effect on January 1, 32 20172016. However, if subsection (3) is implemented, the 33 meaning of a term shall be taken at the time the term is applied 34 under this code. 35 Section 2. The amendments made by this act to s. 220.03, 36 Florida Statutes, apply retroactively to January 1, 2017. 37 Section 3. Paragraph (d) of subsection (2) of section 38 220.222, Florida Statutes, is amended to read: 39 220.222 Returns; time and place for filing.— 40 (2) 41 (d) For taxable years beginning before January 1, 2026, the 42 6-month time period in paragraphs (a) and (b) shall be 7 months 43 for taxpayers with a taxable year ending June 30and shall be 544months for taxpayers with a taxable year ending December 31. 45 Section 4. The amendment made by this act to s. 220.222, 46 Florida Statutes, applies retroactively to taxable years 47 beginning on or after January 1, 2016. 48 Section 5. Present subsection (7) of section 220.33, 49 Florida Statutes, is redesignated as subsection (8), and a new 50 subsection (7) is added to that section, to read: 51 220.33 Payments of estimated tax.—A taxpayer required to 52 file a declaration of estimated tax pursuant to s. 220.24 shall 53 pay such estimated tax as follows: 54 (7) Notwithstanding any administrative rule or 55 determination of the department which allows estimated payments 56 otherwise due on a Saturday, Sunday, or legal holiday to be paid 57 on the next succeeding day that is not a Saturday, Sunday, or 58 legal holiday, any estimated tax payment required under this 59 section which would otherwise be due on the last Saturday or 60 Sunday of June shall be paid on or before the last Friday of 61 June. 62 Section 6. This act shall take effect upon becoming a law.