FL – IRC conformity tie-in date updated, disaster extension established

Florida updated the IRC conformity tie-in date for computing corporate income tax liability from January 1, 2023 to January 1, 2024. The change applies retroactively to January 1, 2024.

The state also established an automatic extension for corporate income taxpayers if the taxpayer has an extension to file its federal income return because of a federally declared disaster for locations in the state. The automatic extension for the taxpayer’s Florida income tax return is 15 days after the due date for its federal income tax return. H.B. 7073, Laws 2024, effective July 1, 2024 and as noted