FL - Guidance issued on affidavit required to claim exemption for boats sold to nonresident purchasers
Guidance is issued regarding changes that have been made to the affidavit required to claim the sales tax exemption for […]
Read MoreFlorida issued corporate income tax guidance on the adoption of the 2023 Internal Revenue Code (IRC). As a result, Florida will follow the computation of federal taxable income. The publication states, among other things:
The annual credit cap for the community contribution tax credit is increased to $25 million, and the annual credit cap for the contaminated site rehabilitation tax credit is increased to $35 million beginning with the 2023-24 state fiscal year.
The internship tax credit program is renamed the experiential learning tax credit program, and the program’s availability is expanded.
The new live local program tax credit is available for tax years beginning on or after January 1, 2023.
Credit for manufacturing of human breast milk-derived human milk fortifiers is available for taxable years that begin within the 2023 and 2024 calendar years.
The residential graywater systems tax credit is available for tax years beginning on or after January 1, 2024.
Tax Information Publication, No. 23C01-04, Florida Department of Revenue, July 28, 2023, released September 2023
Guidance is issued regarding changes that have been made to the affidavit required to claim the sales tax exemption for […]
Read MoreThe Florida Department of Revenue is offering corporate income tax return filing extensions for businesses in counties affected by severe […]
Read MoreFlorida issued guidance that discusses the new corporate income tax credit for employing individuals with unique abilities. The guidance includes […]
Read MoreFlorida issued guidance that discusses the new corporate income tax credit for employing individuals with unique abilities. The guidance includes […]
Read MoreThe IRS has announced plans to deny tens of thousands of high-risk Employee Retention Credit (ERC) claims while beginning to process lower-risk claims. The agency’s review has […]
Read MoreThe IRS has issued a warning about the increasing threat of impersonation scams targeting seniors. These scams involve fraudsters posing as government officials, including IRS agents, […]
Read MoreThe IRS released the inflation adjustment factors and the resulting applicable amounts for the clean hydrogen production credit for 2023 and 2024. For 2023, the inflation adjustment factor is one, so the inflation adjusted applicable amounts are the same as those in Code Sec. 45V(b). Thus, the applicable amounts for a […]
Read MoreThe IRS has released the inflation adjustment factor for the credit for carbn dioxide (CO2) sequestration under Code Sec. 45Q for 2024. The inflation adjustment factor is 1.3877, and the credit is $27.75 per metric ton […]
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