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Archive for the ‘Income Taxes’ Category

New Florida Corporate Income Tax Credits Explained by French Brown

Dean Mead Attorney French Brown
Published: April 2nd, 2019

By: H. French Brown, IV

State and Local Taxation (SALT) attorney French Brown recently authored “INSIGHT: Florida Corporate Income Tax Credits Help Recipients and Taxpayers Through New Law,” which appeared as an article in Bloomberg Tax. Brown focuses on three new tax credit improvements that are meant to encourage corporations to participate in the Florida Tax Credit (FTC) Scholarship Program. […]

Florida Financial Outlook – Currently Sunny with Slight Chance of Recession

Dean Mead Attorney French Brown
Published: January 10th, 2019

By: H. French Brown, IV

Balancing Florida’s Budget Florida’s Constitution mandates the Legislature pass a single bill each year – a balanced state budget. The biggest constraint our legislators face when crafting a budget each spring is the amount of revenue forecasted to be available at the end of the current fiscal year and through the next fiscal year. In […]

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

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

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

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 Mark Holcomb
Dean Mead Attorney Robert Goldman
Published: August 23rd, 2018

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

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 […]

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

By: 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 […]

Tax Cuts and Jobs Acts Moves Forward in House and Senate

Trust and Estate Attorney Orlando
Published: November 20th, 2017

By: Matthew J. Ahearn

On November 16, 2017, the House of Representative passed the Tax Cuts and Jobs Act on a party-line vote (227-205), with several GOP representatives from California, New Jersey, and New York voting against the bill in part because it would reduce the deduction for state and local taxes. Later that same day, the Senate Finance Committee […]

Senate Releases Chairman’s Mark to Tax Cuts and Jobs Act

Trust and Estate Attorney Orlando
Published: November 10th, 2017

By: Matthew J. Ahearn

On November 9, 2017, the Joint Committee on Taxation released the Description of the Chairman’s Mark of the Tax Cuts and Jobs Act (the “Chairman’s Mark”) that is scheduled for markup by the Senate Finance Committee on November 13, 2017. The Chairman’s Mark shows that the Senate’s concepts for tax legislation contain significant differences from the […]

House Tax Cuts and Jobs Act Contains Significant Tax Changes Impacting Estate Planning

Trust and Estate Attorney Orlando
Published: November 3rd, 2017

By: Brian M. Malec Matthew J. Ahearn

On November 2, 2017, the House introduced the highly anticipated Tax Cuts and Jobs Act (“TCJA”).  If enacted in its current form, the TCJA would be the largest tax overhaul since 1986.  This Article will address certain provisions of the proposed legislation that impact estate planning. The TCJA generally maintains the current transfer tax regime […]