Florida Statutes
Fla. Stat. § 220.12 (2025)
“Net income” defined.
✓ 2025 Florida Statutes — current through the 2025 Regular Session
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220.12 “Net income” defined.—For purposes of this code, a taxpayer’s net income for a taxable year shall be its adjusted federal income, or that share of its adjusted federal income for such year which is apportioned to this state under s. 220.15, plus nonbusiness income allocated to this state pursuant to s. 220.16, less the exemption allowed by s. 220.14.
History.—s. 1, ch. 71-984; s. 23, ch. 83-349; s. 4, ch. 85-118; s. 14, ch. 90-203; s. 92, ch. 91-112; s. 36, ch. 96-397; s. 3, ch. 98-293.
Notes of Decisions
Cited in 9
cases (2 in the last 5 years), 1976–2024 · leading case: Heftler Constr. Co. & Sub. v. Depart. of Rev., 334 So. 2d 129 (Fla. 3d DCA 1976).
Heftler Constr. Co. & Sub. v. Depart. of Rev., 334 So. 2d 129 (Fla. 3d DCA 1976). “F.S. § 220.12(1). Thus, `adjusted federal income' is the beginning point for computing tax liability under the Florida Code.”
Roger Dean Enter., Inc. v. Dep't of Rev., 371 So. 2d 101 (Fla. 4th DCA 1978). “[3] Section 220.12(1), Florida Statutes (1973).”
Clearwater Fed. Sav. & Loan Ass'n v. Dept. of Rev., 350 So. 2d 1134 (Fla. 2d DCA 1977). “Section 220.12(1). Therefore, they posit that where the income *1137 to be taxed is reflected on the federal income tax return for the same period, regardless of what the reasons may be for its inclusion on the federal return, such tax imposition is not retroactive and therefore…”
Bernard Egan & Co. v. State, Dept. of Rev., 769 So. 2d 1060 (Fla. 4th DCA 2000). “See §§ 220.12,.13, Fla. Stat. (1997). Pursuant to the Internal Revenue Code, a corporation calculates its federal taxable income by excluding dividends received by the parent company from its domestic subsidiaries but including dividends from its foreign subsidiaries.”
Stan Musial & Biggie's, Inc. v. State, Dep't of Revenue, 363 So. 2d 375 (Fla. 1st DCA 1978). “Section 220.12(1). Section 220.15 provides that adjusted federal income shall be apportioned to the State in accordance with Part IV of Ch.”
Dep't of Revenue v. Brunner Enter., Inc., 390 So. 2d 713 (Fla. 1980). “§§ 220.12, 220.13, Fla.Stat. (1973). The second portion of the question certified is answered as follows: The method of computation under the Florida Corporate Income Tax Code used to tax the gain from an out-of-state sále of stock by a foreign corporation doing business in…”
State Farm Mut. Auto. Ins. Co. v. Florida Dep't of Revenue (Fla. 1st DCA 2024). “” § 220.12, Fla. Stat. The terminology used by the Legislature to direct the calculation of “adjusted federal income” is at the heart of this appeal.”
Buchwald Enter., Inc. v. Florida Dep't of Revenue, 375 So. 2d 861 (Fla. 3d DCA 1979). “” In Section 220.12(1) “net income” is defined as: “For the purposes of this code, a taxpayer’s net income for a taxable year which commences on or after January 1, 1972 shall be that share of its adjusted federal *863 income for such year which is apportioned to this state…”
State of Florida Dep't of Revenue v. Verizon Commc'ns Inc. & Affiliates, foreign corporations (Fla. 1st DCA 2024). “” See §§ 220.12-.13, Fla. Stat. The taxpayer and the Department then determine what portion of this adjusted federal income is taxable as income earned from activity in Florida.”
— 220.12(1) — 5 cases
Heftler Constr. Co. & Sub. v. Depart. of Rev., 334 So. 2d 129 (Fla. 3d DCA 1976). “F.S. § 220.12(1). Thus, `adjusted federal income' is the beginning point for computing tax liability under the Florida Code.”
Roger Dean Enter., Inc. v. Dep't of Rev., 371 So. 2d 101 (Fla. 4th DCA 1978). “[3] Section 220.12(1), Florida Statutes (1973).”
Clearwater Fed. Sav. & Loan Ass'n v. Dept. of Rev., 350 So. 2d 1134 (Fla. 2d DCA 1977). “Section 220.12(1). Therefore, they posit that where the income *1137 to be taxed is reflected on the federal income tax return for the same period, regardless of what the reasons may be for its inclusion on the federal return, such tax imposition is not retroactive and therefore…”
Stan Musial & Biggie's, Inc. v. State, Dep't of Revenue, 363 So. 2d 375 (Fla. 1st DCA 1978). “Section 220.12(1). Section 220.15 provides that adjusted federal income shall be apportioned to the State in accordance with Part IV of Ch.”
Buchwald Enter., Inc. v. Florida Dep't of Revenue, 375 So. 2d 861 (Fla. 3d DCA 1979). “” In Section 220.12(1) “net income” is defined as: “For the purposes of this code, a taxpayer’s net income for a taxable year which commences on or after January 1, 1972 shall be that share of its adjusted federal *863 income for such year which is apportioned to this state…”
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