Florida Senate - 2017                             CS for SB 1156
       By the Committee on Appropriations; and Senator Stargel
       576-03778-17                                          20171156c1
    1                        A bill to be entitled                      
    2         An act relating to the corporate income tax; amending
    3         s. 220.03, F.S.; adopting the 2017 version of the
    4         Internal Revenue Code; providing retroactive
    5         applicability; amending s. 220.222, F.S.; extending
    6         the extension to file a corporate return under certain
    7         circumstances; providing retroactive applicability;
    8         amending s. 220.33, F.S.; revising the filing date for
    9         estimated tax under certain circumstances; providing
   10         an effective date.
   12  Be It Enacted by the Legislature of the State of Florida:
   14         Section 1. Paragraph (n) of subsection (1) and paragraph
   15  (c) of subsection (2) of section 220.03, Florida Statutes, are
   16  amended to read:
   17         220.03 Definitions.—
   18         (1) SPECIFIC TERMS.—When used in this code, and when not
   19  otherwise distinctly expressed or manifestly incompatible with
   20  the intent thereof, the following terms shall have the following
   21  meanings:
   22         (n) “Internal Revenue Code” means the United States
   23  Internal Revenue Code of 1986, as amended and in effect on
   24  January 1, 2017 2016, except as provided in subsection (3).
   25         (2) DEFINITIONAL RULES.—When used in this code and neither
   26  otherwise distinctly expressed nor manifestly incompatible with
   27  the intent thereof:
   28         (c) Any term used in this code has the same meaning as when
   29  used in a comparable context in the Internal Revenue Code and
   30  other statutes of the United States relating to federal income
   31  taxes, as such code and statutes are in effect on January 1,
   32  2017 2016. However, if subsection (3) is implemented, the
   33  meaning of a term shall be taken at the time the term is applied
   34  under this code.
   35         Section 2. The amendments made by this act to s. 220.03,
   36  Florida Statutes, apply retroactively to January 1, 2017.
   37         Section 3. Paragraph (d) of subsection (2) of section
   38  220.222, Florida Statutes, is amended to read:
   39         220.222 Returns; time and place for filing.—
   40         (2)
   41         (d) For taxable years beginning before January 1, 2026, the
   42  6-month time period in paragraphs (a) and (b) shall be 7 months
   43  for taxpayers with a taxable year ending June 30 and shall be 5
   44  months for taxpayers with a taxable year ending December 31.
   45         Section 4. The amendment made by this act to s. 220.222,
   46  Florida Statutes, applies retroactively to taxable years
   47  beginning on or after January 1, 2016.
   48         Section 5. Present subsection (7) of section 220.33,
   49  Florida Statutes, is redesignated as subsection (8), and a new
   50  subsection (7) is added to that section, to read:
   51         220.33 Payments of estimated tax.—A taxpayer required to
   52  file a declaration of estimated tax pursuant to s. 220.24 shall
   53  pay such estimated tax as follows:
   54         (7) Notwithstanding any administrative rule or
   55  determination of the department which allows estimated payments
   56  otherwise due on a Saturday, Sunday, or legal holiday to be paid
   57  on the next succeeding day that is not a Saturday, Sunday, or
   58  legal holiday, any estimated tax payment required under this
   59  section which would otherwise be due on the last Saturday or
   60  Sunday of June shall be paid on or before the last Friday of
   61  June.
   62         Section 6. This act shall take effect upon becoming a law.