18246396, 12C-1.0196 - Florida Administrative Rules, Law, Code, Register

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Florida Department of State and Division of Library and Information Services

Notice: 18246396

Notice of Development of Rulemaking

Department:

DEPARTMENT OF REVENUE

Division:

Corporate, Estate and Intangible Tax

Chapter:

CORPORATE INCOME TAX

Overview

RULE:

12C-1.0196

Research and Development Tax Credit

PURPOSE:

The purpose of the proposed amendments to Rule 12C-1.0196, F.A.C. (Research and Development Tax Credit), are to clarify the application process for eligible corporate partners, provide guidance to businesses that have timely challenged a Department of Economic Opportunity (“DEO”) refusal to issue a certification letter, clarify the Department’s review and allocation process for applications which require appeal to DEO, and provide an explanation of the impact on the allocated credit amount when the credit applied for is understated or overstated.

SUBJECT:

The subject area of the rule development workshop is the proposed changes to Rule 12C-1.0196, F.A.C.

RULEMAKING AUTHORITY:

213.06(1), 220.196(4), 220.51 FS.

LAW:

220.196 FS.

PRINT PUBLISH DATE:

11/8/2016 Vol. 42/218

RELATED STATUTES
AND LAWS:

213.06(1), 220.196(4), 220.51 FS., 220.196 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-1.0196&PDate=11/8/2016&Section=1

REFERENCE MATERIALS:

No reference(s).

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