FL H1333

Requires corporations to add back to taxable income intangible expenses, interest expenses, and management fees paid to related entities, subject to specific exceptions.

Defines "intangible expenses" as costs related to patents, trademarks, copyrights, licensing fees, and similar intellectual property; "interest expenses" under Internal Revenue Code section 163; and "management fees" for services including accounting, legal, payroll, and insurance.

Provides exceptions to the add-back requirement if: taxpayer and recipient file a consolidated return; Department of Revenue approves alternative computations; recipient is taxed in another jurisdiction at 5.5% or higher effective rate on the income; or the related entity incurred and paid the amount to unrelated third parties.

Requires taxpayers to disclose related entity transactions on tax returns including recipient name, domicile, amount paid, and payment description; failure to add back amounts or provide complete information constitutes negligence.

Takes effect July 1, 2010, and applies to tax years ending on or after December 31, 2010.