FL – IRC conformity update, disability employment credit proposed

Legislation introduced in the Florida House of Representatives proposes to:

update the IRC conformity tie-in date for determining corporate income tax liability;

create a corporate income tax credit for employing individuals who have a disability;

establish an automatic extension for corporate income taxpayers when there is a federal disaster declaration for locations in the state; and

increase the fiscal-year cap on total credits under the Strong Families Credit Program.

H.B. 7073, as introduced in the Florida House of Representatives on February 15, 2024