26058679, 12C-1.013 - Florida Administrative Rules, Law, Code, Register

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Florida Department of State and Division of Library and Information Services

Notice: 26058679

Notice of Rule Development

Department:

DEPARTMENT OF REVENUE

Division:

Corporate, Estate and Intangible Tax

Chapter:

CORPORATE INCOME TAX

Overview

RULE:

12C-1.013	Adjusted Federal Income Defined
12C-1.042	Methods of Accounting (Repealed)

PURPOSE:

The purpose of this rulemaking is to repeal Rule 12C-1.042, F.A.C., which contains obsolete language related to long-term contract adjustments. The proposed rulemaking deletes paragraph 12C-1.013(3)(b), F.A.C., as it consists of a cross-reference to Rule 12C-1.042, F.A.C., and also deletes obsolete language related to long-term contract adjustments in Rule 12C-1.013(3)(a), F.A.C.; emergency excise tax in Rule 12C-1.013(3)(c), F.A.C.; and installment sales adjustments in Rule 12C-1.013(3)(e), F.A.C. The proposed rulemaking specifies that the flush left paragraph in s. 220.131(1), F.S., referenced in Rule 12C-1.013(3)(a), F.A.C., may be viewed in the 1985 edition of the Florida Statutes.

SUBJECT:

This rulemaking addresses the repeal of Rule 12C-1.042, F.A.C., which contains obsolete language, and the deletion of obsolete language within Rule 12C-1.013(3), F.A.C.

RULEMAKING AUTHORITY:

213.06(1), 220.42, 220.51 FS., Section 3, Chapter 2009-192, L.O.F.

LAW:

220.02(3), 220.03(5), 220.13, 220.131(1), 220.42, 220.43(1), (3) FS.

PRINT PUBLISH DATE:

7/12/2022 Vol. 48/134

RELATED STATUTES
AND LAWS:

213.06(1), 220.42, 220.51 FS., Section 3, Chapter 2009-192, L.O.F., 220.02(3), 220.03(5), 220.13, 220.131(1), 220.42, 220.43(1), (3) FS.

OVERSIGHT COMMITTEE:

Joint Administrative Procedures Committee
Florida Administrative Law Central Online Network (F.A.L.C.O.N.)

RELATED COURT CASES:

Division of Administrative Hearings

FEDERAL eRULEMAKING
WEB PORTAL:

Regulations.gov

HOW TO LINK TO
THIS NOTICE:

http://flrules.org/gateway/ruleno.asp?id=12C-1.013&PDate=7/12/2022&Section=1

REFERENCE MATERIALS:

No reference(s).

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