Florida S0238 amends corporate income tax laws, affecting unitary combined groups and taxable income calculations.

Florida S0238 amends the definition of "taxpayer" and "unitary combined group" in Florida Statutes. It revises the definition of "adjusted federal income" to include specific additions and subtractions, affecting taxable income calculations. The bill mandates unitary combined groups to use the unitary combined reporting method and requires them to file a combined Florida corporate income tax return. It also specifies income reporting requirements for certain members of a unitary combined group and outlines the calculation of combined apportionment factors.

Florida S0238 amends corporate income tax laws, affecting unitary combined groups and taxable income calculations.

Florida S0238 amends the definition of "taxpayer" and "unitary combined group" in Florida Statutes. It revises the definition of "adjusted federal income" to include specific additions and subtractions, affecting taxable income calculations. The bill mandates unitary combined groups to use the unitary combined reporting method and requires them to file a combined Florida corporate income tax return. It also specifies income reporting requirements for certain members of a unitary combined group and outlines the calculation of combined apportionment factors.