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Archive for the ‘Tax Reform’ Category

The Florida DOR’s Thirteen TCJA Topics – A Closer Look

Dean Mead Attorney French Brown
Dean Mead Attorney Robert Goldman
Dean Mead Attorney Mark Holcomb
Published: September 7th, 2018

H. French Brown, IV Robert S. Goldman Mark E. Holcomb

Many states, like Florida, adopt or “piggyback” the Internal Revenue Code as the starting point for calculating their state corporate income tax, subject to certain modifications. The Florida Legislature’s adoption of the Internal Revenue Code in effect on January 1, 2018, which includes the Tax Cuts and Jobs Act, has potentially broad ramifications for Florida […]

Florida Department of Revenue Conducts First Public Meeting Regarding TCJA Changes

Dean Mead Attorney French Brown
Dean Mead Attorney Robert Goldman
Dean Mead Attorney Mark Holcomb

The December 22, 2017, effective date of the federal Tax Cuts and Jobs Act (TCJA) afforded the Florida Legislature little time during its 2018 Regular Session to evaluate the potential impact of the TCJA’s many domestic and foreign provisions on Florida’s corporate income tax. As a result, the Legislature directed the Department of Revenue to […]

IRS Issues Proposed Regulations on Section 199A Deduction

Published: August 9th, 2018

Stephen R. Looney

On August 8, 2018, the IRS issued Proposed Regulations under Section 199A as enacted by the Tax Cuts and Jobs Act, which generally provides a deduction of 20% of an owner’s allocable share of the “qualified business income” (“QBI”) from a pass-through entity (S corporation, partnership, LLC taxed as a partnership) or sole proprietorship. The […]

FINDING YOUR ZONE – Florida’s Opportunity Zones Confirmed

Dean Mead Attorney French Brown

The U.S. Treasury announced exciting news for eager investors this week in publishing the approved list of qualified sites for the new Opportunity Zones for all 50 states. Florida successfully had 427 Opportunity Zones approved from its list – creating unique areas in every Florida County upon which improvements may be developed using this new […]

Florida Department of Revenue to Study Impacts of Federal Tax Reform – Seeking Taxpayer Input

Dean Mead Attorney French Brown
Dean Mead Attorney Robert Goldman
Dean Mead Attorney Mark Holcomb

This is the fourth article in a series related to Florida’s implementation of the Federal Tax Cuts and Jobs Act (“TCJA”) for corporate income taxpayers. The previous articles include: Eyes on the Legislature: The Federal Tax Cuts and Jobs Act and the Risk for Florida Corporate Taxpayers written by Michael B. Dobson & Robert S. […]

IRS Issues Notice on Carried Interests Held by S Corporations

Published: March 21st, 2018

Stephen R. Looney

Many questions have already arisen with respect to the newly-enacted Tax Cuts and Jobs Act.  As the IRS begins the process of releasing guidance in order to answer these questions, it is important that taxpayers stay current.  Recently, the IRS issued Notice 2018-18[1], its first piece of guidance under the Tax Cuts and Jobs Act.  […]

Legislative Update: The Federal Tax Cuts and Jobs Act and the Risk for Florida Corporate Taxpayers

Dean Mead Attorney French Brown
Published: February 16th, 2018

H. French Brown, IV

This is an update to our previous article, Eyes on the Legislature: The Federal Tax Cuts and Jobs Act and the Risk for Florida Corporate Taxpayers written by Michael B. Dobson & Robert S. Goldman.  That article provided a general overview of how Florida’s corporate income tax “piggybacks” the Internal Revenue Code, and how the Florida […]

The Tax Cuts and Jobs Act of 2017 – What’s New for Renewable Energy?

Published: January 16th, 2018

Dana M. Apfelbaum

We’ve previously written on the tax incentives available to promote renewable energy, including solar power. Our previous article is available here. In the legislative flurry that took place at the end of 2017, with the House and Senate bills for tax reform, many were concerned that federal tax incentives for renewable energy would disappear. Fortunately, […]