summary
Introduced
12/13/2019
12/13/2019
In Committee
01/08/2020
01/08/2020
Crossed Over
Passed
Dead
03/14/2020
03/14/2020
Introduced Session
2020 Regular Session
Bill Summary
Defining the term "NAICS"; providing a credit against the corporate income tax, for a specified amount and for a specified taxable year, for taxpayers classified in the sales financing or passenger car rental or leasing industries which meet certain criteria, etc.
AI Summary
This bill creates a $2 million corporate income tax credit for certain taxpayers classified under the North American Industry Classification System (NAICS) codes 53211 (sales financing), 522220 (sales financing), or 532112 (passenger car rental and leasing). To qualify, the taxpayer must have deferred gains on the sale of personal property assets for federal income tax purposes under Section 1031 of the Internal Revenue Code during the taxable year beginning on or after August 1, 2016, and before August 1, 2017, and must meet certain thresholds for the increase in their final tax liability for the taxable year beginning on or after August 1, 2017, and before August 1, 2018. The bill operates retroactively to January 1, 2018.
Committee Categories
Budget and Finance, Business and Industry
Sponsors (1)
Other Sponsors (1)
Commerce and Tourism (Senate)
Last Action
Died in Finance and Tax (on 03/14/2020)
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/2020/1240 |
| BillText | https://www.flsenate.gov/Session/Bill/2020/1240/BillText/c1/HTML |
| Bill | https://www.flsenate.gov/Session/Bill/2020/1240/BillText/c1/PDF |
| Senate Committee Amendment #306312 | https://www.flsenate.gov/Session/Bill/2020/1240/Amendment/306312/HTML |
| BillText | https://www.flsenate.gov/Session/Bill/2020/1240/BillText/Filed/HTML |
| Bill | https://www.flsenate.gov/Session/Bill/2020/1240/BillText/Filed/PDF |
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