summary
Introduced
03/01/2019
03/01/2019
In Committee
03/08/2019
03/08/2019
Crossed Over
Passed
Dead
05/04/2019
05/04/2019
Introduced Session
2019 Regular Session
Bill Summary
Revising the definition of the term "taxpayer"; revising the definition of the term "adjusted federal income" to prohibit specified deductions, to limit certain carryovers, and to require subtractions of certain dividends 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, etc.
AI Summary
This bill revises the definition of "taxpayer" and "adjusted federal income" for the purpose of determining the corporate income tax. The bill prohibits certain deductions, limits carryovers, and requires subtractions of certain dividends paid and received within a water's edge group. It also specifies 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. The bill creates new sections related to water's edge groups, including requirements for water's edge reporting, determining water's edge group members, and filing combined returns. The bill also makes various other changes related to corporate income tax credits and repeals consolidated return filing requirements.
Committee Categories
Business and Industry
Sponsors (1)
Last Action
Laid on Table (on 03/26/2019)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.flsenate.gov/Session/Bill/2019/1692 |
| BillText | https://www.flsenate.gov/Session/Bill/2019/1692/BillText/Filed/HTML |
| Bill | https://www.flsenate.gov/Session/Bill/2019/1692/BillText/Filed/PDF |
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