FL H7153

Amends Florida Statutes section 220.03 to adopt the 2014 version of the Internal Revenue Code (as amended and in effect on January 1, 2014) for corporate income tax purposes, updating the reference from the 2013 version.

Modifies the definition of "Internal Revenue Code" to reference January 1, 2014 instead of January 1, 2013 as the applicable effective date for federal tax code provisions.

Updates references to federal income tax statutes to reflect the January 1, 2014 version when defining terms used in Florida's corporate income tax code.

Provides retroactive effect to January 1, 2014, making the changes applicable to tax years beginning on or after that date.

Takes effect upon becoming law with retroactive application to January 1, 2014.