FL S0170

Amends s. 213.758, F.S. to comprehensively revise tax liability provisions for business transfers, including new definitions of "business," "financial institution," "insider," "involuntary transfer," "stock of goods," and "tax."

Requires transferees acquiring more than 50 percent of a business, its assets, or inventory to be liable for unpaid taxes owed by the transferor, unless the transferor provides a certificate of compliance showing no audit notice and all taxes paid, with no common insiders between parties.

Limits transferee tax liability to the fair market value or total purchase price of the transferred property (whichever is greater), calculated net of liens and liabilities except those owed to insiders.

Requires the Department of Revenue to conduct audits within 90 days and provide at least 20 days' prior written notice before the Department of Legal Affairs seeks a circuit court injunction against a taxpayer or transferee failing to pay taxes.

Excludes transferees from liability for involuntary transfers (foreclosure, bankruptcy, eminent domain) and transfers of only residential real property or unimproved land without other business assets; repeals s. 202.31 and s. 212.10, F.S.