220.185 – State housing tax credit.
220.185 State housing tax credit.— (1) DEFINITIONS.—As used in this section, the term: (a) “Credit period” means the period of 5 years beginning with the year the project is completed. (b) “Eligible basis” means a project’s adjusted basis of the housing portion of the qualified project as of the close of the first taxable year of the credit period. […]
220.186 – Credit for Florida alternative minimum tax.
220.186 Credit for Florida alternative minimum tax.— (1) A taxpayer required to determine taxable income pursuant to s. 220.13(2)(k) shall be allowed a credit against the tax imposed by this chapter in any subsequent taxable years. 1(2) The credit pursuant to this section shall be the amount of the excess, if any, of the tax paid based upon […]
220.12 – “Net income” defined.
220.12 “Net income” defined.—For purposes of this code, a taxpayer’s net income for a taxable year shall be its adjusted federal income, or that share of its adjusted federal income for such year which is apportioned to this state under s. 220.15, plus nonbusiness income allocated to this state pursuant to s. 220.16, less the exemption […]
220.1875 – Credit for contributions to eligible nonprofit scholarship-funding organizations.
220.1875 Credit for contributions to eligible nonprofit scholarship-funding organizations.— (1) There is allowed a credit of 100 percent of an eligible contribution made to an eligible nonprofit scholarship-funding organization under s. 1002.395 against any tax due for a taxable year under this chapter after the application of any other allowable credits by the taxpayer. An eligible contribution […]
220.13 – “Adjusted federal income” defined.
1220.13 “Adjusted federal income” defined.— (1) The term “adjusted federal income” means an amount equal to the taxpayer’s taxable income as defined in subsection (2), or such taxable income of more than one taxpayer as provided in s. 220.131, for the taxable year, adjusted as follows: 2(a) Additions.—There shall be added to such taxable income: 1.a. The amount of […]
220.1876 – Credit for contributions to the New Worlds Reading Initiative.
1220.1876 Credit for contributions to the New Worlds Reading Initiative.— 2(1) For taxable years beginning on or after January 1, 2021, there is allowed a credit of 100 percent of an eligible contribution made to the New Worlds Reading Initiative under s. 1003.485 against any tax due for a taxable year under this chapter after the application […]
220.131 – Adjusted federal income; affiliated groups.
220.131 Adjusted federal income; affiliated groups.— (1) Notwithstanding any prior election made with respect to consolidated returns, and subject to subsection (5), for taxable years beginning on or after September 1, 1984, any corporation subject to tax under this code which corporation is the parent company of an affiliated group of corporations may elect, not later than […]
220.1877 – Credit for contributions to eligible charitable organizations.
1220.1877 Credit for contributions to eligible charitable organizations.— 2(1) For taxable years beginning on or after January 1, 2021, there is allowed a credit of 100 percent of an eligible contribution made to an eligible charitable organization under s. 402.62 against any tax due for a taxable year under this chapter after the application of any other […]
220.14 – Exemption.
220.14 Exemption.— (1) In computing a taxpayer’s liability for tax under this code, there shall be exempt from the tax $50,000 of net income as defined in s. 220.12 or such lesser amount as will, without increasing the taxpayer’s federal income tax liability, provide the state with an amount under this code which is equal to the […]
220.1895 – Rural Job Tax Credit and Urban High-Crime Area Job Tax Credit.
220.1895 Rural Job Tax Credit and Urban High-Crime Area Job Tax Credit.—There shall be allowed a credit against the tax imposed by this chapter amounts approved by the Department of Economic Opportunity pursuant to the Rural Job Tax Credit Program in s. 212.098 and the Urban High-Crime Area Job Tax Credit Program in s. 212.097. A […]