(1) It is the intent of the Legislature in enacting this code to impose a tax upon all corporations, organizations, associations, and other artificial entities which derive from this state or from any other jurisdiction permanent and inherent attributes not inherent in or available to natural persons, such as perpetual life, transferable ownership represented by shares or certificates, and limited liability for all owners. It is intended that any limited liability company that is classified as a partnership for federal income tax purposes and is defined in and organized pursuant to chapter 605 or qualified to do business in this state as a foreign limited liability company not be subject to the tax imposed by this code. It is the intent of the Legislature to subject such corporations and other entities to taxation hereunder for the privilege of conducting business, deriving income, or existing within this state. This code is not intended to tax, and shall not be construed so as to tax, any natural person who engages in a trade, business, or profession in this state under his or her own or any fictitious name, whether individually as a proprietorship or in partnership with others, or as a member or a manager of a limited liability company classified as a partnership for federal income tax purposes; any estate of a decedent or incompetent; or any testamentary trust. However, a corporation or other taxable entity which is or which becomes partners with one or more natural persons shall not, merely by reason of being a partner, exclude from its net income subject to tax its respective share of partnership net income. This statement of intent shall be given preeminent consideration in any construction or interpretation of this code in order to avoid any conflict between this code and the mandate in s. 5, Art. VII of the State Constitution that no income tax be levied upon natural persons who are residents and citizens of this state.
(2) It is the intent of the Legislature that the tax levied by this code be construed to be an excise or privilege tax measured by net income and that such tax not be deemed or construed to be a property tax or a tax on property or a tax measured by the value of property for any purpose.
(3) It is the intent of the Legislature that the income tax imposed by this code utilize, to the greatest extent possible, concepts of law which have been developed in connection with the income tax laws of the United States, in order to:
(a) Minimize the expenses of the Department of Revenue and difficulties in administering this code;
(b) Minimize the costs and difficulties of taxpayer compliance; and
(c) Maximize, for both revenue and statistical purposes, the sharing of information between the state and the Federal Government.
(4) It is the intent of the Legislature that the tax imposed by this code be prospective in effect only. Consistent with this intention and the intent expressed in subsection (3), it is hereby declared to be the intent of the Legislature that:
(a) “Income,” for purposes of this code, including gains from the sale, exchange, or other disposition of property, be deemed to be created for Florida income tax purposes at such time as such income is realized for federal income tax purposes;
(b) No accretion of value, no accrual of gain, and no acquisition of a right to receive or accrue income which has occurred or been generated prior to November 2, 1971, be deemed to be “property,” or an interest in property, for any purpose under this code; and
(c) All income realized for federal income tax purposes after November 2, 1971, be subject to taxation in full by this state and be taxed in the manner and to the extent provided in this code.
(5) It is the intent of the Legislature that, if there is included in any taxpayer’s net income subject to tax under this code any item or items of income which are determined to be improperly so included because of a conflict with any federal statute, the Constitution of the United States, or the State Constitution, all such items of income be excluded from the net incomes of all taxpayers subject to tax under this code, but all other provisions of this chapter, and their application, not be invalidated or in any way impaired by such required exclusion of an item or items of income.
(6)(a) It is the intent of the Legislature that the enterprise zone jobs credit provided by s. 220.181 be applicable only to those businesses located in an enterprise zone. It is further the intent of the Legislature to provide an incentive for the increased provision of employment opportunities leading to the improvement of the quality of life of those employed and the positive expansion of the economy of the state as well as the economy of present enterprise zones.
(b) Any person charged with any criminal offense arising from a civil disorder associated with an emergency, as defined in s. 220.03(1)(i), and found guilty, whether or not adjudication of guilt or imposition of sentence is suspended, deferred, or withheld, is not eligible to make application for, receive, or in any other manner enjoy the benefits or any form of assistance available under chapter 80-247, Laws of Florida.
(c) This subsection expires on the date specified in s. 290.016 for the expiration of the Florida Enterprise Zone Act.
(7)(a) It is the intent of the Legislature that the enterprise zone property tax credit provided by s. 220.182 be applicable only to those new or expanded businesses located in enterprise zones which make a positive expansionary contribution to the economy of this state and to the economy of their local communities in terms of new jobs for residents of enterprise zones and improvements to real and personal property located in enterprise zones.
(b) Any person charged with any criminal offense arising from a civil disorder associated with an emergency, as defined in s. 220.03(1)(i), and found guilty, whether or not adjudication of guilt or imposition of sentence is suspended, deferred, or withheld, is not eligible to make application for, receive, or in any other manner enjoy the benefits or any form of assistance available under chapter 80-248, Laws of Florida.
(c) This subsection expires on the date specified in s. 290.016 for the expiration of the Florida Enterprise Zone Act.
1(8) It is the intent of the Legislature that credits against either the corporate income tax or the franchise tax be applied in the following order: those enumerated in s. 631.828, those enumerated in s. 220.191, those enumerated in s. 220.181, those enumerated in s. 220.183, those enumerated in s. 220.182, those enumerated in s. 220.1895, those enumerated in s. 220.195, those enumerated in s. 220.184, those enumerated in s. 220.186, those enumerated in s. 220.1845, those enumerated in s. 220.19, those enumerated in s. 220.185, those enumerated in s. 220.1875, those enumerated in s. 220.1876, those enumerated in s. 220.1877, those enumerated in s. 220.18775, those enumerated in s. 220.1878, those enumerated in s. 288.062, those enumerated in former s. 288.9916, those enumerated in former s. 220.1899, those enumerated in former s. 220.194, those enumerated in s. 220.196, those enumerated in s. 220.198, those enumerated in s. 220.1915, those enumerated in s. 220.199, those enumerated in s. 220.1991, and those enumerated in s. 220.1992.
(9) Notwithstanding any other provision of this chapter, it is the intent of the Legislature that, except as otherwise provided under the Internal Revenue Code, for the purposes of this chapter, the term “qualified subchapter S subsidiary,” as that term is defined in s. 1361(b)(3) of the Internal Revenue Code, shall not be treated as a separate corporation or entity from the S corporation parent to which the subsidiary’s assets, liabilities, income, deductions, and credits are attributed under s. 1361(b)(3) of the Internal Revenue Code.
A. Section 12, ch. 2021-193, provides that “[t]he Department of Revenue is authorized, and all conditions are deemed met, to adopt emergency rules under s. 120.54(4), Florida Statutes, for the purpose of implementing provisions related to the New Worlds Reading Initiative Tax Credit created by this act. Notwithstanding any other law, emergency rules adopted under this section are effective for 6 months after adoption and may be renewed during the pendency of procedures to adopt permanent rules addressing the subject of the emergency rules.”
B. Section 41, ch. 2022-97, provides that “[t]he Department of Revenue is authorized, and all conditions are deemed met, to adopt emergency rules under s. 120.54(4), Florida Statutes, for the purpose of implementing changes related to the Strong Families tax credit program and the New Worlds Reading Initiative tax credit program made by this act. Notwithstanding any other law, emergency rules adopted under this section are effective for 6 months after adoption and may be renewed during the pendency of procedures to adopt permanent rules addressing the subject of the emergency rules.”
“(1) The Department of Revenue is authorized, and all conditions are deemed met, to adopt emergency rules under s. 120.54(4), Florida Statutes, for the purpose of implementing provisions related to the Live Local Program created by this act. Notwithstanding any other law, emergency rules adopted under this section are effective for 6 months after adoption and may be renewed during the pendency of procedures to adopt permanent rules addressing the subject of the emergency rules.
“(2) This section expires July 1, 2026.”
D. Section 67, ch. 2025-208, provides that “[t]he Department of Revenue and the Department of Commerce are authorized, and all conditions are deemed met, to adopt emergency rules under s. 120.54(4), Florida Statutes, for the purpose of implementing provisions related to the Rural Community Investment Program. Notwithstanding any other law, emergency rules adopted under this section are effective for 6 months after adoption and may be renewed during the pendency of procedures to adopt permanent rules addressing the subject of the emergency rules.”
E. Section 89, ch. 2025-208, provides that “[t]he Department of Revenue is authorized, and all conditions are deemed met, to adopt emergency rules under s. 120.54(4), Florida Statutes, for the purpose of implementing provisions related to the Home Away From Home Tax Credit. Notwithstanding any other law, emergency rules adopted under this section are effective for 6 months after adoption and may be renewed during the pendency of procedures to adopt permanent rules addressing the subject of the emergency rules.”
Cited 110 times | Published | Court of Appeals for the Eleventh Circuit | 15 U.S.P.Q. 2d (BNA) 1282, 16 Fed. R. Serv. 3d 1441, 1990 U.S. App. LEXIS 10077, 1990 WL 75074
business. Restatement (Second) of Agency § 220(2) (1958). 16 . A work is "created”
...Due Process Clauses of the Florida and United States Constitutions. The trial court rejected these contentions and granted summary judgment in favor of the appellee, Department of Revenue. We agree with the appellant's first contention and reverse. Section 220.02(4)(a) of the Florida Income Tax Code defines "income" which is subject to taxation as: (a) "Income," for purposes of this Code, including gains from the sale, exchange, or other disposition of property, shall be deemed to be created fo...
...Essentially, the Department of Revenue asserts *689 that recognition of income by the federal government is the event which brings the Florida tax into operation. We disagree. The Florida Income Tax Code expressly provides that the Code shall utilize concepts of law developed in connection with the federal income tax laws. Section 220.02(3), Florida Statutes (1977)....
...words and to have expressed its intent by the use of the words found in the statute. We must, therefore, conclude that the Legislature intended to employ the federal concept of realization when it used that term in its definition of income found in Section 220.02(4)(a)....
...Rev., April 1972). [4] Although arguments of the department were cast in a somewhat different light, as earlier noted, there is no difference of opinion between the department and S.R.G. Corporation as to the effect of what the department proposed. [5] § 220.02(4)(a), Fla. Stat. (1975). [6] The conceded gain represents the amount by which the 1975 sale price exceeds the cash investment in the new property. [7] § 220.02(4)(c), Fla. Stat. (1975). [8] § 220.42(1), Fla. Stat. (1975). [9] §§ 220.02(3) and 220.11-.13, Fla....
Cited 13 times | Published | Supreme Court of Florida | 2000 WL 986007
...ancial statements must do so with an independent impartiality which contemplates reliance upon the audit by interests other than the entity upon which the audit is performed. See 1 American Inst. of Certified Pub. Accountants, Professional Standards § 220.02....
Cited 12 times | Published | Supreme Court of Florida
...d by the taxpayer after January 1, 1972, but produced as a result of a transaction prior to January 1, 1972; otherwise, the Legislature would not have enacted Section 220.13(1)(c). We do not believe the explanation of legislative intent contained in Section 220.02(4) conflicts with Section 220.13(1)(c), but if it does, the latter section being located later in the statutory scheme and being more specific, would control....
Cited 10 times | Published | Florida 2nd District Court of Appeal
...In dealing with the issue to be resolved here, it is essential that we also keep in mind that Florida imposes a tax on the income of not just Florida-based corporations, but upon all corporations "conducting business, deriving income or existing within the state." Section 220.02, Florida Statutes (1971)....
Cited 6 times | Published | Supreme Court of Florida
...ty appreciation occurring prior to November 2, 1971, even though the sale or other transfer of such property which "triggered" the income tax on capital gain *617 for federal income tax purposes (and for the Florida corporate income tax as well, see Section 220.02(4)(a), Florida Statutes) did not occur until after that date....
Cited 5 times | Published | Florida 1st District Court of Appeal | 84 Oil & Gas Rep. 445, 9 Fla. L. Weekly 2315, 1984 Fla. App. LEXIS 12584
...x, for any product it derives from its outer continental shelf wells. We cannot agree that an interpretation having such sweeping consequences was ever intended by the Congress, and we therefore reject it. As a corollary argument Shell contends that Section 220.02(5), Florida Statutes, [2] requires the complete exclusion of income derived from outer continental shelf oil because including that income would cause a *961 conflict with a federal statute, in this case the OCSLA....
...ward and defining each such area. All of such applicable laws shall be administered and enforced by the appropriate officers and courts of the United States. State taxation laws shall not apply to the outer Continental Shelf. (emphasis supplied) [2] 220.02 Legislative intent....
...The Department of Revenue assessed income tax deficiencies for all the above subtractions. Following a hearing before a Division of Administration Hearing Officer, the Department of Revenue upheld the assessments. Heftler appealed to this court. We affirm. I Realization of Income Section 220.02(4)(a), Florida Statutes (1975), provides that income "shall be deemed to be created for Florida income tax purposes at such time as said income is realized for federal income tax purposes." The Supreme Court of Florida has adopted the definition of income contained in Eisner v....
...35, 54 L.Ed.2d 63 (1977) (quoting Macomber, 252 U.S. at 207, 40 S.Ct. at 193, 64 L.Ed. at 529). Realization occurs when the taxpayer receives actual economic gain from the disposition of the property: this is the taxable event. S.R.G. Corp. v. Department of Revenue, 365 So.2d 687 (Fla. 1978). Section 220.02(3), Florida Statutes (1975), provides that concepts of law which have been developed in connection with federal income tax laws shall be used to the greatest extent possible in imposing the Florida income tax....
Cited 4 times | Published | Florida 1st District Court of Appeal
...The legislature has expressly stated that its intent in enacting Chapter 220 was to "utilize, to the greatest extent possible, concepts of law which have been developed in connection with the income tax laws of the United States... .", thus enabling Florida taxpayers to "piggyback" on the provisions of the IRC. Section 220.02(3), Florida Statutes (Supp....
Cited 3 times | Published | Florida 2nd District Court of Appeal
...me under Section 111 of the Internal Revenue Code. 26 U.S.C.A., Section 111. The amount was necessarily includable as income in 1973 for federal tax purposes because petitioner had received a federal tax benefit during the years 1970 and 1971. Under Section 220.02(3) of the Florida Statutes, the concepts embodied in Section 111 of the Internal Revenue Code should be utilized in determining petitioner's Florida income tax....
...Therefore, they posit that where the income *1137 to be taxed is reflected on the federal income tax return for the same period, regardless of what the reasons may be for its inclusion on the federal return, such tax imposition is not retroactive and therefore not prohibited by Florida Statute, Section 220.02(4)....
Cited 2 times | Published | Florida 4th District Court of Appeal
...taxpayer after January 1, 1972, [7] but produced as a result of a transaction prior to January 1, 1972; otherwise, the Legislature would not have enacted Section 220.13(1)(c). *105 We do not believe the explanation of legislative intent contained in Section 220.02(4) conflicts with Section 220.13(1)(c), but if it does, the latter section being located later in the statutory scheme and being more specific, would control....
Cited 1 times | Published | Florida 1st District Court of Appeal | 10 Fla. L. Weekly 1500
...derive from this state or from any other jurisdiction permanent and inherent attributes not inherent in or available to natural persons ... . to taxation ... for the privilege of conducting business, deriving income, or existing within this state." Section 220.02(1), Florida Statutes....
...n with the income tax laws of the United States... .', thus enabling Florida taxpayers to `piggyback' on the provisions of the IRC." Department of Revenue v. American Telephone and Telegraph Company, 431 So.2d 1025, 1027 (Fla. 1st DCA 1983), citing, Section 220.02(3), Florida Statutes (Supp....
Cited 1 times | Published | Supreme Court of Florida | 11 Fla. L. Weekly 185, 1986 Fla. LEXIS 2062
...imply constitutes a limitation of state authority over the OCS area and does not seem intended to address income derived outside the OCS. [2] Income is normally taxed when realized. Helvering v. Horst, 311 U.S. 112, 61 S.Ct. 144, 85 L.Ed. 75 (1940); § 220.02(4)(a), Fla....
...Clearly, no realization of income occurred at the wellhead, despite Shell's assignment of an artificial wellhead price to the oil, because Shell received no actual economic gain from any "sale, exchange, or other disposition of property" at that point. § 220.02(4)(a)....
...Florida Statutes (1985), conflicts with federal governments regulating the production of oil on the outer Continental Shelf. Florida's corporate income tax is a tax on income "at such time as such income is realized for federal income tax purposes." § 220.02(4)(a), Fla....
...the OCSLA. Since this tax directly conflicts with the OCSLA, the amount of income generated by the production of oil and gas on the outer Continental Shelf should be excluded from the net income subject to Florida's corporate income tax pursuant to section 220.02(5), Florida Statutes (1985)....
included as corporations subject to tax. See Section 220.02(1), Florida Statutes (1979). Further, Section
This Florida statute resource is curated by Graham W. Syfert, Esq., a Jacksonville, Florida personal injury and workers' compensation attorney. For legal consultation, call 904-383-7448.
