8983769, 12B-7.006 - Florida Administrative Rules, Law, Code, Register

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Florida Department of State and Division of Library and Information Services

Notice: 8983769

Notice of Development of Rulemaking

Department:

DEPARTMENT OF REVENUE

Division:

Miscellaneous Tax

Chapter:

SEVERANCE TAXES, FEES, AND SURCHARGES

Overview

RULE:

12B-7.006	Exemptions and Credits
12B-7.008	Public Use Forms
12B-7.026	Public Use Forms

PURPOSE:

Section 3, Chapter 2010-166, L.O.F., increases the base rate of tax on the severance of phosphate rock to $1.71 per ton beginning July 1, 2010, and decreases the base rate of tax on the severance of phosphate rock to $1.61 per ton beginning July 1, 2011. The total tax rate, including the surcharge imposed under Section 211.3101(11), F.S., remains at $1.38 per ton.
The Florida Tax Credit Scholarship Program, as amended by section 1, Chapter 2010-24, L.O.F., allows taxpayers to receive a credit allocation for contributions made to nonprofit scholarship funding organizations. Beginning January 1, 2011, a tax credit of 100 percent of the contribution is allowed against any tax due on oil production in Florida or against any tax due on gas production in Florida imposed under Sections 211.02 and 211.025, F.S. The tax credit may not exceed 50 percent of the tax due on the return on which the tax credit is taken. Proposed Rule Chapter 12-30, F.A.C., Florida Tax Credit Scholarship Program, establishes the procedures governing the approval of tax credit allocations and rescindments, the approval for carryforward tax credits to a subsequent tax year, and the procedures to be followed by taxpayers when claiming tax credits on tax returns.
The purpose of the proposed amendments to Rule 12B-7.006, F.A.C., is to: (1) update the exemptions listed in the rule to include the exemption provided in Section 211.027(3), F.S., for gas vented or flared directly into the atmosphere when the gas is not otherwise sold; (2) provide that provisions for the tax credit available against the tax paid on the production or oil or gas in Florida are provided in Rule Chapter 12-30, F.A.C., as proposed; and (3) update the information on how to obtain copies of forms from the Department.
The purpose of the proposed amendments to Rule 12B-7.008, F.A.C. (Public Use Forms), is to adopt, by reference, updates to Forms DR-144 and DR-144ES for reporting the tax on gas and sulfur production in Florida and Forms DR-145 and DR-145X to: (1) provide instructions on reporting the tax credit available against the tax paid on oil or gas production in Florida for contributions to an eligible nonprofit scholarship funding organization; (2) simplify the instructions for reporting the taxes on oil, gas, and sulfur production; and (3) update the information on how to obtain copies of forms from the Department.
The purpose of the proposed amendments to Rule 12B-7.026, F.A.C. (Public Use Forms), is to adopt, by reference, updates to Forms DR-142 and DR-142ES to: (1) provide for the reporting of the tax on production of phosphate rock for the period January 2010 – June 2010, and for the period July 2010 – December 2010, at the rates provided in Section 3, Chapter 2010-166, L.O.F.; and (2) simplify the instructions for reporting the solid mineral severance taxes.

SUBJECT:

The subject of the workshop is: (1) the inclusion of the exemption provided in Section 211.027(3), F.S., for gas vented or flared directly into the atmosphere when the gas is not otherwise sold; (2) the changes to the form and instructions to report a tax credit against any tax due on oil or gas production in Florida under the Florida Tax Credit Scholarship Program, as provided in Chapter 2010-24, L.O.F.; and (3) the adoption, by reference, of updates to forms used by the Department in the administration of the severances tax imposed on oil, gas, sulfur, and solid minerals produced in Florida.

RULEMAKING AUTHORITY:

211.075(2), 211.125(1), 211.33(6), 213.06(1), 1002.395(13) FS.

LAW:

92.525(1)(b), (2), (3), (4), 211.02, 211.025, 211.0251, 211.026, 211.027, 211.075, 211.076, 211.125, 211.30, 211.31, 211.3103, 211.3106, 211.33, 213.755(1), 1002.395 FS.

PRINT PUBLISH DATE:

8/13/2010 Vol. 36/32

RELATED STATUTES
AND LAWS:

211.075(2), 211.125(1), 211.33(6), 213.06(1), 1002.395(13) FS., 92.525(1)(b), (2), (3), (4), 211.02, 211.025, 211.0251, 211.026, 211.027, 211.075, 211.076, 211.125, 211.30, 211.31, 211.3103, 211.3106, 211.33, 213.755(1), 1002.395 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=12B-7.006&PDate=8/13/2010&Section=1

REFERENCE MATERIALS:

No reference(s).

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