| 1 | Representative Tobia offered the following: |
| 2 |
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| 3 | Amendment (with title amendment) |
| 4 | Between lines 231 and 232, insert: |
| 5 | Section 5. Section 220.11, Florida Statutes, is amended to |
| 6 | read: |
| 7 | 220.11 Tax imposed.- |
| 8 | (1) A tax measured by net income is hereby imposed on |
| 9 | every taxpayer for each taxable year commencing on or after |
| 10 | January 1, 1972, and for each taxable year which begins before |
| 11 | and ends after January 1, 1972, for the privilege of conducting |
| 12 | business, earning or receiving income in this state, or being a |
| 13 | resident or citizen of this state. Such tax shall be in addition |
| 14 | to all other occupation, excise, privilege, and property taxes |
| 15 | imposed by this state or by any political subdivision thereof, |
| 16 | including any municipality or other district, jurisdiction, or |
| 17 | authority of this state. |
| 18 | (2) The tax imposed by this section shall be an amount |
| 19 | equal to 5 1/2 percent of the taxpayer's net income for the |
| 20 | taxable year. |
| 21 | (3) The tax imposed by this section, for taxpayers |
| 22 | determining taxable income under s. 220.13(2)(k), shall be an |
| 23 | amount equal to 3.3 percent of the taxpayer's net income for the |
| 24 | taxable year. |
| 25 | (4) In the case of a taxpayer to which s. 55 of the |
| 26 | Internal Revenue Code is applied for the taxable year, the |
| 27 | amount of tax determined under this section shall be the greater |
| 28 | of the tax determined under subsection (2) without the |
| 29 | application of s. 55 of the Internal Revenue Code or the tax |
| 30 | determined under subsection (3). |
| 31 | (5) This section expires December 31, 2013, and the |
| 32 | expiration of the tax in this section first applies to the |
| 33 | taxable year of a taxpayer beginning on or after January 1, |
| 34 | 2013. |
| 35 | Section 6. The Department of Revenue is authorized, and |
| 36 | all conditions are deemed met, to adopt emergency rules to |
| 37 | administer sections 5 and 7 of this act. The emergency rules |
| 38 | shall remain in effect for 6 months after adoption and may be |
| 39 | renewed during the pendency of procedures to adopt permanent |
| 40 | rules addressing the subject of the emergency rules. |
| 41 | Section 7. Legislative findings; intent; application.-The |
| 42 | Legislature recognizes that issues relating to the collection |
| 43 | and liability for the payment of corporate income taxes imposed |
| 44 | before the effective date of the repeal provided for in section |
| 45 | 5 of this act shall remain unresolved after the effective date |
| 46 | of the repeal. To ensure that the resolution of those issues |
| 47 | occurs in as orderly a manner as possible, the Legislature finds |
| 48 | it necessary to delay the repeal of certain other sections of |
| 49 | chapter 220, Florida Statutes, relating to the corporate income |
| 50 | tax. To that end and to the extent that the remaining sections |
| 51 | of chapter 220, Florida Statutes, are not manifestly |
| 52 | inapplicable or incompatible with the resolution of issues |
| 53 | arising before the effective date of the repeal provided for in |
| 54 | section 5 of this act, the Legislature intends for the remaining |
| 55 | sections to apply. |
| 56 |
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| 57 |
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| 58 | ----------------------------------------------------- |
| 59 | T I T L E A M E N D M E N T |
| 60 | Remove line 37 and insert: |
| 61 | tax when certain transfers of a business occur; amending s. |
| 62 | 220.11, F.S.; providing for the future repeal of the corporate |
| 63 | income tax; providing that the termination of the corporate |
| 64 | income tax applies to taxable years of a taxpayer which begin on |
| 65 | or after January 1, 2013; authorizing the Department of Revenue |
| 66 | to adopt rules; providing legislative findings and intent; |
| 67 | providing application; providing |