FL H7185

Updates Florida's reference to the Internal Revenue Code from the 2010 version to the 2011 version as of January 1, 2011

Extends the time period for bonus depreciation and Section 179 expensing adjustments from 2010 to 2013, and adds references to the Small Business Jobs Act of 2010 and the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010

Increases the corporate income tax exemption from $5,000 to $25,000 effective January 1, 2012

Increases the franchise tax exemption for banks and savings associations from $5,000 to $25,000 effective January 1, 2012

Authorizes the Department of Revenue to adopt emergency rules for implementation and appropriates $99,740 for fiscal year 2010-2011, with provisions for reversion and reappropriation