Florida Senate - 2011                                    SB 1222
       
       
       
       By Senator Norman
       
       
       
       
       12-01083-11                                           20111222__
    1                        A bill to be entitled                      
    2         An act relating to the incremental reduction and
    3         future repeal of the corporate income tax; amending s.
    4         220.11, F.S.; providing for incremental reductions of
    5         the corporate income tax effective on specified dates;
    6         providing for future repeal of part I of chapter 220,
    7         F.S., relating to the chapter title, legislative
    8         intent, and definitions, and part II of chapter 220,
    9         F.S., relating to the imposition and apportionment of
   10         the corporate income tax; providing legislative
   11         findings, intent, and application; providing for
   12         future repeal of part III of chapter 220, F.S.,
   13         relating to corporate income tax returns,
   14         declarations, and records, part IV of chapter 220,
   15         F.S., relating to corporate income tax payments, part
   16         V of chapter 220, F.S., relating to corporate income
   17         tax accounting, part VI of chapter 220, F.S., relating
   18         to miscellaneous corporate income tax provisions, part
   19         VIII of chapter 220, F.S., relating to the
   20         administrative procedures and judicial review
   21         applicable to the corporate income tax, part IX of
   22         chapter 220, F.S., relating to the penalties and
   23         interest applicable to, and the enforcement of, the
   24         corporate income tax, and part X of chapter 220, F.S.,
   25         relating to the criminal offenses and penalties
   26         applicable to the corporate income tax; amending s.
   27         220.64, F.S.; providing for the future application to
   28         the franchise tax of specified parts and sections of
   29         chapter 220, F.S., as those parts and sections existed
   30         before their repeal; providing direction to the
   31         Division of Statutory Revision to assist legislative
   32         committee staff in the preparation of conforming
   33         legislation for submission at specified future regular
   34         sessions; providing effective dates.
   35  
   36  Be It Enacted by the Legislature of the State of Florida:
   37  
   38         Section 1. Section 220.11, Florida Statutes, is amended to
   39  read:
   40         220.11 Tax imposed.—
   41         (1) A tax measured by net income is hereby imposed on every
   42  taxpayer for each taxable year commencing on or after January 1,
   43  1972, and for each taxable year which begins before and ends
   44  after January 1, 1972, for the privilege of conducting business,
   45  earning or receiving income in this state, or being a resident
   46  or citizen of this state. Such tax shall be in addition to all
   47  other occupation, excise, privilege, and property taxes imposed
   48  by this state or by any political subdivision thereof, including
   49  any municipality or other district, jurisdiction, or authority
   50  of this state.
   51         (2) The tax imposed by this section shall be an amount
   52  equal to 5 1/2 percent of the taxpayer’s net income for the
   53  taxable year.
   54         (a) Effective January 1, 2012, the tax imposed under this
   55  subsection shall be an amount equal to 4 1/2 percent of the
   56  taxpayer’s net income for the taxable year.
   57         (b) Effective January 1, 2013, the tax imposed under this
   58  subsection shall be an amount equal to 3 1/2 percent of the
   59  taxpayer’s net income for the taxable year.
   60         (c) Effective January 1, 2014, the tax imposed under this
   61  subsection shall be an amount equal to 2 1/2 percent of the
   62  taxpayer’s net income for the taxable year.
   63         (d) Effective January 1, 2015, the tax imposed under this
   64  subsection shall be an amount equal to 1 1/2 percent of the
   65  taxpayer’s net income for the taxable year.
   66         (e) Effective January 1, 2016, the tax imposed under this
   67  subsection shall be an amount equal to 1/2 percent of the
   68  taxpayer’s net income for the taxable year.
   69         (3) The tax imposed by this section, for taxpayers
   70  determining taxable income under s. 220.13(2)(k), shall be an
   71  amount equal to 3.3 percent of the taxpayer’s net income for the
   72  taxable year.
   73         (a) Effective January 1, 2012, the tax imposed under this
   74  subsection shall be an amount equal to 2.7 percent of the
   75  taxpayer’s net income for the taxable year.
   76         (b) Effective January 1, 2013, the tax imposed under this
   77  subsection shall be an amount equal to 2.1 percent of the
   78  taxpayer’s net income for the taxable year.
   79         (c) Effective January 1, 2014, the tax imposed under this
   80  subsection shall be an amount equal to 1.5 percent of the
   81  taxpayer’s net income for the taxable year.
   82         (d) Effective January 1, 2015, the tax imposed under this
   83  subsection shall be an amount equal to 0.9 percent of the
   84  taxpayer’s net income for the taxable year.
   85         (e) Effective January 1, 2016, the tax imposed under this
   86  subsection shall be an amount equal to 0.3 percent of the
   87  taxpayer’s net income for the taxable year.
   88         (4) In the case of a taxpayer to which s. 55 of the
   89  Internal Revenue Code is applied for the taxable year, the
   90  amount of tax determined under this section shall be the greater
   91  of the tax determined under subsection (2) without the
   92  application of s. 55 of the Internal Revenue Code or the tax
   93  determined under subsection (3).
   94         Section 2. Effective January 1, 2017, sections 220.02 and
   95  220.03, Florida Statutes, designated as part I of chapter 220,
   96  Florida Statutes, entitled “TITLE; LEGISLATIVE INTENT;
   97  DEFINITIONS”; and sections 220.11, 220.12, 220.13, 220.131,
   98  220.14, 220.15, 220.1501, 220.151, 220.152, 220.16, 220.181,
   99  220.182, 220.183, 220.184, 220.1845, 220.185, 220.186, 220.1875,
  100  220.1895, 220.1896, 220.1899, 220.19, 220.191, 220.192, and
  101  220.193, Florida Statutes, designated as part II of chapter 220,
  102  Florida Statutes, entitled “TAX IMPOSED; APPORTIONMENT,” are
  103  repealed.
  104         Section 3. Legislative findings; intent; application.—The
  105  Legislature recognizes that issues related to the collection and
  106  liability for the payment of corporate income taxes imposed
  107  before the effective date of the repeals enumerated in section 2
  108  of this act will remain unresolved after the effective date of
  109  those repeals. To ensure that the resolution of those issues
  110  occurs in as orderly a manner as possible, the Legislature finds
  111  it necessary to delay for 2 years the repeal of certain other
  112  sections of chapter 220, Florida Statutes, related to the
  113  corporate income tax. To that end and to the extent that the
  114  remaining sections of chapter 220 are not manifestly
  115  inapplicable or incompatible with the resolution of issues
  116  arising before the effective date of the repeals enumerated in
  117  section 2 of this act, the Legislature intends for the remaining
  118  sections to apply.
  119         Section 4. Effective January 1, 2019, sections 220.21,
  120  220.211, 220.22, 220.221, 220.222, 220.23, 220.24, 220.241, and
  121  220.242, Florida Statutes, designated as part III of chapter
  122  220, Florida Statutes, entitled “RETURNS; DECLARATIONS;
  123  RECORDS”; sections 220.31, 220.32, 220.33, and 220.34, Florida
  124  Statutes, designated as part IV of chapter 220, Florida
  125  Statutes, entitled “PAYMENTS”; sections 220.41, 220.42, 220.43,
  126  and 220.44, Florida Statutes, designated as part V of chapter
  127  220, Florida Statutes, entitled “ACCOUNTING”; sections 220.51,
  128  220.52, and 220.54, Florida Statutes, designated as part VI of
  129  chapter 220, Florida Statutes, entitled “MISCELLANEOUS
  130  PROVISIONS”; sections 220.701, 220.703, 220.705, 220.707,
  131  220.709, 220.711, 220.713, 220.715, 220.717, 220.719, 220.721,
  132  220.723, 220.725, 220.727, 220.731, 220.733, 220.735, 220.737,
  133  and 220.739, Florida Statutes, designated as part VIII of
  134  chapter 220, Florida Statutes, entitled “ADMINISTRATIVE
  135  PROCEDURES AND JUDICIAL REVIEW”; sections 220.801, 220.803,
  136  220.805, 220.807, 220.809, 220.813, 220.815, 220.819, 220.821,
  137  220.823, 220.825, 220.827, and 220.829, Florida Statutes,
  138  designated as part IX of chapter 220, Florida Statutes, entitled
  139  “PENALTIES, INTEREST, AND ENFORCEMENT”; and sections 220.901,
  140  220.903, and 220.905, Florida Statutes, designated as part X of
  141  chapter 220, Florida Statutes, entitled “TAX CRIMES,” are
  142  repealed.
  143         Section 5. Effective January 1, 2017, section 220.64,
  144  Florida Statutes, is amended to read:
  145         220.64 Other provisions applicable to franchise tax.—To the
  146  extent that they are not manifestly incompatible with the
  147  provisions of this part, the following parts and sections apply
  148  to the franchise tax imposed by this part:
  149         (1) Part I, as it existed on December 31, 2016.
  150         (2) Parts I, III, IV, V, VI, VIII, IX, and X of this code
  151  and ss.
  152         (3) Sections 220.12, 220.13, 220.15, and 220.16, as they
  153  existed on December 31, 2016 apply to the franchise tax imposed
  154  by this part.
  155         (4) Under the rules prescribed in s. 220.131, as it existed
  156  on December 31, 2016, a consolidated return may be filed by any
  157  affiliated group of corporations composed of one or more banks
  158  or savings associations, its or their Florida parent
  159  corporation, and any nonbank or nonsavings subsidiaries of such
  160  parent corporation.
  161         Section 6. Effective January 1, 2019, section 220.64,
  162  Florida Statutes, as amended by this act, is amended to read:
  163         220.64 Other provisions applicable to franchise tax.—To the
  164  extent that they are not manifestly incompatible with the
  165  provisions of this part, the following parts and sections apply
  166  to the franchise tax imposed by this part:
  167         (1) Part I, as it existed on December 31, 2016.
  168         (2) Parts III, IV, V, VI, VIII, IX, and X of this code, as
  169  they existed on December 31, 2018.
  170         (3) Sections 220.12, 220.13, 220.15, and 220.16, as they
  171  existed on December 31, 2016.
  172         (4) Under the rules prescribed in s. 220.131, as it existed
  173  on December 31, 2016, a consolidated return may be filed by any
  174  affiliated group of corporations composed of one or more banks
  175  or savings associations, its or their Florida parent
  176  corporation, and any nonbank or nonsavings subsidiaries of such
  177  parent corporation.
  178         Section 7. In the interim between the 2016 Regular Session
  179  and the 2017 Regular Session, the Division of Statutory Revision
  180  shall provide the appropriate substantive committees of the
  181  House of Representatives and the Senate with assistance, upon
  182  request, to enable such committees to prepare draft legislation
  183  to conform the Florida Statutes and any legislation enacted
  184  during 2016 to the repeal of the provisions enumerated in
  185  section 2 of this act for submission at the 2017 Regular Session
  186  of the Legislature.
  187         Section 8. In the interim between the 2018 Regular Session
  188  and the 2019 Regular Session, the Division of Statutory Revision
  189  shall provide the appropriate substantive committees of the
  190  House of Representatives and the Senate with assistance, upon
  191  request, to enable such committees to prepare draft legislation
  192  to conform the Florida Statutes and any legislation enacted
  193  during 2018 to the repeal of the provisions enumerated in
  194  section 4 of this act for submission at the 2019 Regular Session
  195  of the Legislature.
  196         Section 9. Except as otherwise expressly provided in this
  197  act, this act shall take effect July 1, 2011.