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FL S1680
Bill
AI Summary
- Lowers corporate income tax rate to 4.5% on net income up to $1 million and 5.5% on net income exceeding $1 million for standard taxpayers
- Reduces tax rate to 2.7% on net income up to $1 million and 3.3% on net income exceeding $1 million for taxpayers determining taxable income under Section 220.13(2)(k)
- Applies same tiered rate structure to franchise tax on banks and savings associations (4.5% on first $1 million, 5.5% on remaining tax base)
- Takes effect upon becoming law and operates retroactively to January 1, 2010
Legislative Description
Corporate Income Tax [CPSC]
Last Action
Died in Committee on Transportation and Economic Development Appropriations
4/30/2010
Committee Referrals
Transportation and Economic Development Appropriations4/7/2010
Finance and Tax3/8/2010
Commerce2/10/2010
Full Bill Text
No bill text available