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 MoreVoters rejected two constitutional amendments referred by the Florida Legislature to the 2022 ballot for property tax purposes. Amendments in Florida require a 60% supermajority vote of approval to pass.
Limitation on the Assessment of Real Property Used for Residential Purposes
Amendment 1 proposed an amendment to the State Constitution. Had it been approved by voters, Amendment 1:
would have authorized the legislature to prohibit the consideration of any change or improvement made to real property used for residential purposes to improve the property’s resistance to flood damage in determining the assessed value of such property for ad valorem taxation purposes; and
would have been effective January 1, 2023.
Additional Homestead Property Tax Exemption for Specified Critical Public Services Workforce
Amendment 3 also proposed a constitutional amendment to the State Constitution. Had it been approved by voters, Amendment 3:
would have authorized the legislature to grant an additional homestead property tax exemption for non-school levies of up to $50,000 of the assessed value of homestead property owned by classroom teachers, law enforcement officers, correctional officers, firefighters, emergency medical technicians, paramedics, child welfare services professionals, active duty members of the United States Armed Forces, and Florida National Guard members; and
would have been effective January 1, 2023.
Constitutional Amendments, Florida Department of State, Division of Elections, November 2022; Proposed Constitutional Amendments for the General Election, Florida Department of State, Florida Division of Elections, November 2022
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 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 […]
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 […]
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