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 MoreA Florida taxpayer’s tangible personal property used in connection with a solar energy generating facility within the federal Air Force base was taxable because once leased, the property is no longer exempt under the Deed of Cession and applicable Florida statutes for private enterprises. In this case, the taxpayer subleased land on the federal Air Force base and constructed solar panels. The county property appraiser assessed tangible personal property tax on the solar panel array. The taxpayer argued that the solar energy generating facility was exempt because it was located within a federal enclave. However, as the property appraiser correctly argued that the federal enclave doctrine is much more nuanced, the trial court ruled in the property appraiser’s favor. The District Court of Appeal noted that although the federal government held paper title to the improvements under the lease, the full value of the building and improvements constituted the lessee’s interest in the property subject to state taxation. Therefore, once leased to a private enterprise the property was no longer exempt under the Deed of Cession and applicable Florida statutes. Accordingly, the taxpayer’s appeal was denied, and the solar panels on the land leased pursuant to the Military Leasing Act were taxable. Gulf Coast Solar Center I, LLC v. Busbee, District Court of Appeal of Florida, First District, No. 1D20-1439, July 19, 2021
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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