Florida Pool Pro
sm
• February 2015
23
Effective date
: 1/1/2016
Status
: HB 47 - Referred to Economic Development and Tourism
Subcommittee; Appropriations Committee; and Economic Affairs Committee
on 12/19/14. SB 114 - Referred to Commerce and Tourism; Community Affairs;
and Appropriations on 12/12/14.
Tax Exempt Income
- HB 49 by Rep. Moskowitz / SB 138 by Senator Hukill
Summary
: Increases amount of income that is exempt from corporate
income tax; increases amount of income that is exempt from franchise tax
imposed on banks and savings associations; and provides applicability.
Comments
: Would increase amount of income exempt from both taxes to
$75,000. Currently only $50,000 is exempt from both the corporate income
tax and franchise tax.
Effective date
: 1/1/2016
Status
: HB 49 - Referred to Finance and Tax Committee and Appropriations
Committee on 12/19/14. SB 138 - Referred to Banking and Insurance; Finance
and Tax; and Appropriations on 12/12/14.
New Small Business Tax Credit
- SB 128 by Senator Soto
Summary
: Providing a tax credit to new small businesses in a specified
amount for qualified employees; limiting the total amount of tax credit that may
be taken as a deduction; prohibiting receipt of the tax credit through a refund
of taxes previously paid; requiring a business to apply to the Department of
Revenue for tax credit approval; authorizing an unused amount of tax credit
to be carried forward for a specified period under certain circumstances, etc.
Effective date
: 7/1/2015
Status
: Referred to Commerce and Tourism; Finance and Tax; Appropriations
Subcommittee on Transportation, Tourism, and Economic Development; and
Appropriations on 12/12/2014.
