FL S1316

Defines "manufacturer" as any business establishment classified under NAICS sectors 31-33 (Manufacturing) for purposes of corporate income tax apportionment.

Eliminates the requirement that manufacturers make $250 million in qualified capital expenditures within a 2-year period beginning July 1, 2011 to qualify for special tax apportionment.

Allows manufacturers doing business within and outside Florida to apportion adjusted federal income solely by sales factor under s. 220.15(5), with the ability to elect this method or the standard method for any taxable year.

Removes the notification process and 2-year measurement period previously required; manufacturers need only submit an application to the Department of Economic Opportunity with information demonstrating eligibility.

Maintains Department of Economic Opportunity authority to audit, revoke approval, and assess penalties and back taxes if applicants provided materially false information; takes effect July 1, 2013.