State Tax News
The FICPA gathers the latest news that's relevant to Florida CPAs. Here's the top headlines for State Tax news in Florida.
May 08, 2012 States Expand Definition Of ‘Nexus’ for Taxes- State tax officials are expanding their concept of what constitutes a
taxable economic presence in their state as more economic activity moves
online.
May 08, 2012 Abortion Becomes a Tax Issue In Kansas House Bill- The Kansas House passed a bill Monday that would further restrict
abortion by rewriting state tax law. "Nobody on the state level has gone
through their tax code in this manner," said Elizabeth Nash, a state
issues manager for the Guttmacher...
May 07, 2012 Potential Changes In Tax Rules, Rates Will Affect Next Year's Returns- A number of tax breaks and tax rates are set to expire at the end of
2012. If Congress does not act, we go back to the old tax brackets and
rates from before year 2001.
May 04, 2012 Employee Leasing Companies Can Elect to Report and Pay Unemployment Tax Using the Tax Rate for Each Client - Recent law changes allow employee leasing companies (ELC) to make an
irrevocable, one-time election to report and pay unemployment tax
contributions using the tax identification number and contribution rate
for each client company of the ELC...
May 04, 2012 Changes to Florida Corporate Income Tax 2012 Internal Revenue Code- Each year the Florida Legislature must consider the adoption of the
current Internal Revenue Code (Chapter 26, United States Code) so
certain tax definitions and the calculation of adjusted federal income
are consistent between the Internal...
May 03, 2012 Scott Targets Spending by Domestic Violence Group- TALLAHASSEE -- For the past decade, Florida law has required that tax
money to aid victims of domestic violence be controlled by a single
group.
Read more here:...
April 30, 2012 New Reporting Requirements for Private Employers Contracting With Governmental or Nonprofit Educational Institutions - Beginning with unemployment reports due on or after July 1, 2012, a
recent law change requires that private employers with a contract to
provide services to a governmental or nonprofit educational institution
must separately identify the wages...
April 30, 2012 2012 Sales Tax Holiday- Florida law directs that no sales tax or local option tax (also known as discretionary sales surtax) will be collected on sales of clothing, footwear, and certain accessories selling for $75 or less per item, or on certain school supplies selling...
April 30, 2012 New Law Requires Sales and Use Tax Dealers to File Tax Returns and Pay Tax Electronically to Receive a Collection Allowance - For sales and use tax returns and payments due on or
after July 1, 2012, dealers may deduct a collection allowance only when
they: File sales and use tax returns electronically; Pay tax electronically; and Electronically file and pay tax...
April 25, 2012 Senate Considers State And Local Taxes- The Senate Finance Committee held a hearing Wednesday on tax reform and its impact on state and local tax and fiscal policy.
Among the topics covered were sales taxes on Internet purchases and downloads, and the interplay between federal, state...
April 23, 2012 Counties Lose Another Round In Effort to Collect Hotel Taxes from Online Companies- TALLAHASSEE --
A Leon County circuit court judge dealt the latest blow to Florida
counties hoping to fill their budget gaps with taxes paid by online
travel companies.
Read more here:...
April 05, 2012 Mystery Business Could Bring High-wage Jobs to Clearwater — For Tax Refunds- For the first time in six years, a business is looking to move downtown with the help of state tax refunds encouraging high-wage jobs.
For pledging 50 new jobs, the company could earn a refund of $8,500 per job, totaling nearly half a million...
April 02, 2012 Florida Tax Credit Scholarship Program Tax Credit Cap Increased - The tax credit cap amount has increased to $229 million for the 2012-2013 state fiscal year. Chapter 2012-22, Laws of Florida amended section 1002.395(5), Florida
Statutes, increasing the tax credit cap to $229 million for the
2012-2013 state...
April 01, 2012 April 2012 FDOR Facts on Tax- Did you know that you can now request a tax clearance letter online? A taxpayer can use a clearance letter (also called a certificate of clearance or a letter of good standing) when selling a business or business interest, or requesting certain...
April 01, 2012 The Evolution Of Sales Tax Nexus Expansion Laws March 30, 2012 Solid Mineral Tax Rates for Year 2012- Phosphate Rock Producers
Phosphate rock producers are subject to tax as provided by law. Use the 2012 tax rate when completing the Declaration of Estimated Tax and Installment Payments of Solid Mineral Severance Tax (Form DR-142ES).
March 28, 2012 Understanding Your 2012 Tax Rate Calculation - The purpose of this publication is to help employers understand their Unemployment Compensation Tax Rate Notice (UCT-20) and recent law changes. Overview of Unemployment Insurance Program The unemployment insurance program is a federal-state...
March 28, 2012 1 Percent Restaurant Tax Could be One Way to Help Orlando's Homeless, Former Sen. Mel Martinez Says- If you run up a $100 tab for food and drinks at a Miami restaurant, one dollar of the bill goes to help the homeless and victims of domestic violence.
Since the passage of the 1 percent tax on high-end eateries nearly two decades ago, the number...
March 27, 2012 Prepaid Communications Services- This Tax Information Publication provides the history and background
about prepaid communications services, and clarifies the application of
Florida taxes to sales of certain prepaid communications plans and
services. Overview and History
In...
March 23, 2012 Changes to Unemployment Tax Rate Calculation and Taxable Wage Base- Recently passed legislation makes changes to Florida unemployment tax law. The law: Adjusts the tax rate calculation for 2012, Changes the taxable wage base from $8,500 to $8,000, Grants employee leasing companies an election to select reporting...
March 17, 2012 Unmired At Last- SINCE Florida’s property market collapsed and its economy tanked, Hillsborough County has endured almost nonstop austerity. In the past five years the government of the county, halfway up the state’s Gulf coast, has eliminated a...
February 28, 2012 Tax-free Internet Sales, Exemptions Erode State Revenue- Sales taxes last year took the smallest percentage of consumers' dollars
since 1967 as tax-free Internet sales and untaxed services continued to
erode state and local governments' top source of revenue, a USA TODAY
analysis finds.
February 28, 2012 Big profits In Florida's Poker Rooms- The state-mandated limits on poker bets were lifted a couple of years
ago. Still, most players sit down at the cheaper tables where the stakes
are just a few dollars a bet.
February 27, 2012 High Cost, Obscure Government Rule Dooms Widening Of Crowded Fletcher Avenue- TAMPA — About 40,000 vehicles travel each day on Fletcher Avenue. It connects interstates 75 and 275 and takes thousands of commuters to the University of South Florida, Moffitt Cancer Center and Florida Hospital.
The Transportation Task...
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