Bill > S7064

This bill updates Florida's corporate income tax laws by revising the version of the Internal Revenue Code (IRC) that Florida statutes reference, changing it from January 1, 2015, to January 1, 2016, and also adjusts the dates for calculating interest and penalties on underpayments of estimated corporate income tax. Specifically, it modifies the due dates for partnership information returns and corporate tax returns, generally shifting them earlier in the year, and introduces specific provisions for taxpayers with fiscal years ending on June 30 and December 31. The bill also retroactively applies these changes to January 1, 2016, for certain sections and to estimated payments for taxable years beginning on or after January 1, 2017, for others, and allows the Department of Revenue to adopt emergency rules to implement these changes.