On Tuesday, Dec. 9, the Florida Cabinet unanimously passed DOR Emergency Rule 12CER08-31. This emergency rule is intended to protect Florida employers and our economy from a glitch in the corporate “piggyback” bill passed during the 2008 Legislative Session and ensure that Florida employers retain the same depreciation and expensing deduction in 2008 as they have in the past.

Further Reading:

Crist, Fla. Cabinet OK tax glitch fix

Gov. Crist, Florida Cabinet OK emergency rule to fix corporate tax law “piggyback” glitch

Joint Statement Regarding Florida Cabinet Action on Corporate Income Tax Glitch

Emergency Rule 12CER08-31, Florida Administrative Code Economic Stimulus Act of 2008 Additions