The 2023 Florida Statutes (including Special Session C)

Title XIV
TAXATION AND FINANCE

Chapter 220
INCOME TAX CODE

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F.S. 220.14

220.14 Exemption.—

(1) In computing a taxpayer’s liability for tax under this code, there shall be exempt from the tax $50,000 of net income as defined in s. 220.12 or such lesser amount as will, without increasing the taxpayer’s federal income tax liability, provide the state with an amount under this code which is equal to the maximum federal income tax credit which may be available from time to time under federal law.

(2) In the case of a taxable year for a period of less than 12 months, the exemption allowed by this section shall be prorated on the basis of the number of days in such year to 365.

(3) Only one exemption shall be allowed to taxpayers filing a consolidated return under this code.

(4) Notwithstanding any other provision of this code, not more than one exemption under this section may be allowed to the Florida members of a controlled group of corporations, as defined in s. 1563 of the Internal Revenue Code with respect to taxable years ending on or after December 31, 1970, filing separate returns under this code. The exemption described in this section shall be divided equally among such Florida members of the group, unless all of such members consent, at such time and in such manner as the department shall by regulation prescribe, to an apportionment plan providing for an unequal allocation of such exemption.

History.—s. 1, ch. 71-984; s. 6, ch. 83-349; s. 3, ch. 84-549; s. 5, ch. 2011-229; s. 10, ch. 2012-32.

F.S. 220.14 on Google Scholar

F.S. 220.14 on Casetext

Amendments to 220.14

Arrestable Offenses / Crimes under Fla. Stat. 220.14

Level: Degree
Misdemeanor/Felony: First/Second/Third

Current data shows no reason an arrest or criminal charge should have occurred directly under Florida Statute 220.14.

Annotations, Discussions, Cases:

Cases from cite.case.law:

SINCE HARDWARE GUANGZHOU CO. LTD. v. UNITED STATES,, 977 F. Supp. 2d 1347 (Ct. Int'l Trade 2014)

. . . Commerce’s inland cities (ie., Ludhiana, Guwahati, New Delhi, Noida, Gurgaon, Bengaluru and Hyderabad)_ $220.14 . . .

ROGER DEAN ENTERPRISES, INC. v. STATE DEPARTMENT OF REVENUE,, 387 So. 2d 358 (Fla. 1980)

. . . Under the provisions of section 220.14(1), Florida Statutes (1973), corporate taxpayers are generally . . . However, under subsection (4) of section 220.14, only one exemption is allowed to the Florida member . . .

BUCHWALD ENTERPRISES, INC. v. FLORIDA DEPARTMENT OF REVENUE,, 375 So. 2d 861 (Fla. Dist. Ct. App. 1979)

. . . income for such year which is apportioned to this state under § 220.15, less the exemption allowed by § 220.14 . . .

ROGER DEAN ENTERPRISES, INC. v. DEPARTMENT OF REVENUE, 371 So. 2d 101 (Fla. Dist. Ct. App. 1978)

. . . controlled group of corporations” it refused to allow petitioner the $5000 exemption allowed by Section 220.14 . . .

STAN MUSIAL BIGGIE S, INC. v. STATE DEPARTMENT OF REVENUE,, 363 So. 2d 375 (Fla. Dist. Ct. App. 1978)

. . . .-15, less the annual exemption allowed by Section 220.14. Section 220.12(1). . . .

HEFTLER CONSTRUCTION CO. AND SUBSIDIARIES, v. DEPARTMENT OF REVENUE, 334 So. 2d 129 (Fla. Dist. Ct. App. 1976)

. . . . § 220.15, less the annual exemption allowed by § 220.14. F.S. § 220.12(1). . . .

J. ROONEY, v. NUTA, 267 F.2d 142 (5th Cir. 1959)

. . . limitation of liability and exoneration did not apply and entered a final decree for the total sum of $33,-220.14 . . .