27280394, 12C-1.0198 - Florida Administrative Rules, Law, Code, Register

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Florida Department of State and Division of Library and Information Services

Notice: 27280394

Notice of Development of Rulemaking

Department:

DEPARTMENT OF REVENUE

Division:

Corporate, Estate and Intangible Tax

Chapter:

CORPORATE INCOME TAX

Overview

RULE:

12C-1.0198	Experiential Learning Tax Credit Program
12C-1.01991	Credit for Manufacturing of Human Breast Milk Derived from Human Milk Fortifiers
12C-1.051	Forms

PURPOSE:

The purpose of the proposed amendments to Rule 12C-1.0198, F.A.C. (Experiential Learning Internship Tax Credit Program), is to incorporate the changes to section 220.198, F.S., by s. 4, Ch. 2023-81, L.O.F., renaming the tax credit to the Experimental Learning Tax Credit Program and allowing tax credits for qualified apprentice and preapprentice during calendar years 2022-2025. 
The purpose of the proposed creation of Rule 12C-1.01991, F.A.C.(Credit for Manufacturing of Human Breast Milk Derived from Human Milk Fortifiers), is to incorporate the provisions of section 220.1991, F.S., as provided in s. 33, Ch. 2023-157, L.O.F., which provides a corporate income tax credit for taxable years beginning during 2023 and 2024 calendar years equal to 50 percent of the cost of qualifying manufacturing equipment purchased during the specified period. The proposed rule provides how to apply for the tax credit, the documentation required to evidence the purchase of qualifying equipment, how to carry forward any unused tax credit for up to five taxable years, and how to transfer any unused credit to another member of same affiliated group of corporations.
The purpose of the proposed amendments to Rule 12C-1.051, F.A.C. (Forms), is to incorporate, by reference, changes to the application for the Experiential Learning Tax Credit Program Application and new forms created for administration of the Florida Credit for Manufacturing of Human Breast Milk Derived Human Milk Fortifiers (Forms F-11991 and F-11991T).

SUBJECT:

The subject areas to be addressed are the changes to the Experimental Learning Tax Credit Program provided by s. 4, Ch. 2023-81, L.O.F., and the new corporate income tax credit for equipment purchased for the manufacturing of human breast milk derived human milk fortifiers provided by s. 33, Ch. 2023-157, L.O.F.

RULEMAKING AUTHORITY:

213.06(1), 220.192(7), 220.193(4), 220.196(4), 220.198(6), 220.51, 1002.395(13) FS., s. 33, Ch. 2023-157, LOF F.

LAW:

119.071(5), 212.08(5)(p), 213.755(1), 220.11, 220.12, 220.13(1), (2), 220.15, 220.16, 220.181, 220.182, 220.183, 220.184, 220.1845, 220.185, 220.186, 220.1875, 220.1895, 220.1896, 220.1899, 220.191, 220.193, 220.194, 220.195, 220.196, 220.198, 220.1991, 220.21, 220.211, 220.22, 220.221, 220.222, 220.23, 220.24, 220.241, 220.31, 220.32, 220.33, 220.34, 220.41, 220.42, 220.43, 220.44, 220.51, 220.721, 220.723, 220.725, 220.737, 220.801, 220.803, 220.805, 220.807, 220.809, 221.04, 624.5105, 624.51055, 1002.395 FS. , s. 4, Ch. 2023-81, LOF F., s. 33, Ch. 2023-157, LOF F.

PRINT PUBLISH DATE:

6/30/2023 Vol. 49/127

RELATED STATUTES
AND LAWS:

213.06(1), 220.192(7), 220.193(4), 220.196(4), 220.198(6), 220.51, 1002.395(13) FS., s. 33, Ch. 2023-157, LOF F., 119.071(5), 212.08(5)(p), 213.755(1), 220.11, 220.12, 220.13(1), (2), 220.15, 220.16, 220.181, 220.182, 220.183, 220.184, 220.1845, 220.185, 220.186, 220.1875, 220.1895, 220.1896, 220.1899, 220.191, 220.193, 220.194, 220.195, 220.196, 220.198, 220.1991, 220.21, 220.211, 220.22, 220.221, 220.222, 220.23, 220.24, 220.241, 220.31, 220.32, 220.33, 220.34, 220.41, 220.42, 220.43, 220.44, 220.51, 220.721, 220.723, 220.725, 220.737, 220.801, 220.803, 220.805, 220.807, 220.809, 221.04, 624.5105, 624.51055, 1002.395 FS. , s. 4, Ch. 2023-81, LOF F., s. 33, Ch. 2023-157, LOF F.

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-1.0198&PDate=6/30/2023&Section=1

REFERENCE MATERIALS:

No reference(s).

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