Florida Statutes
Fla. Stat. § 220.14 (2025)
Exemption.
✓ 2025 Florida Statutes — current through the 2025 Regular Session
Find cases:
SyfertCases citing this section
FL-LEGleg.state.fl.us
JustiaFla. Statutes
CornellLII Search
CasesGoogle Scholar
220.14 Exemption.—
(1) In computing a taxpayer’s liability for tax under this code, there shall be exempt from the tax $50,000 of net income as defined in s. 220.12 or such lesser amount as will, without increasing the taxpayer’s federal income tax liability, provide the state with an amount under this code which is equal to the maximum federal income tax credit which may be available from time to time under federal law.
(2) In the case of a taxable year for a period of less than 12 months, the exemption allowed by this section shall be prorated on the basis of the number of days in such year to 365.
(3) Only one exemption shall be allowed to taxpayers filing a consolidated return under this code.
(4) Notwithstanding any other provision of this code, not more than one exemption under this section may be allowed to the Florida members of a controlled group of corporations, as defined in s. 1563 of the Internal Revenue Code with respect to taxable years ending on or after December 31, 1970, filing separate returns under this code. The exemption described in this section shall be divided equally among such Florida members of the group, unless all of such members consent, at such time and in such manner as the department shall by regulation prescribe, to an apportionment plan providing for an unequal allocation of such exemption.
History.—s. 1, ch. 71-984; s. 6, ch. 83-349; s. 3, ch. 84-549; s. 5, ch. 2011-229; s. 10, ch. 2012-32.
Notes of Decisions
Cited in 5
cases, 1976–1980 · leading case: Roger Dean Enter. v. STATE, ETC., 387 So. 2d 358 (Fla. 1980).
Roger Dean Enter. v. STATE, ETC., 387 So. 2d 358 (Fla. 1980). “However, under subsection (4) of section 220.14, only one exemption is allowed to the Florida member of a "controlled group of corporations" filing separate returns.”
Roger Dean Enter., Inc. v. Dep't of Rev., 371 So. 2d 101 (Fla. 4th DCA 1978). “Subsection (4) of that section provides: "Notwithstanding any other provisions of this Code, not more than one exemption under this section shall be allowed to the Florida members of a controlled group of corporations, as defined in section 1563 of the Internal Revenue Code with…”
Heftler Constr. Co. & Sub. v. Depart. of Rev., 334 So. 2d 129 (Fla. 3d DCA 1976). “15, less the annual exemption allowed by § 220.14. F.S. § 220.12(1). Thus, `adjusted federal income' is the beginning point for computing tax liability under the Florida Code.”
Stan Musial & Biggie's, Inc. v. State, Dep't of Revenue, 363 So. 2d 375 (Fla. 1st DCA 1978). “-15, less the annual exemption allowed by Section 220.14. Section 220.12(1). Section 220.”
Buchwald Enter., Inc. v. Florida Dep't of Revenue, 375 So. 2d 861 (Fla. 3d DCA 1979). “15, less the exemption allowed by § 220.14.” In defining “adjusted federal income” Section 220.”
— 220.14(1) — 2 cases
Roger Dean Enter. v. STATE, ETC., 387 So. 2d 358 (Fla. 1980). “However, under subsection (4) of section 220.14, only one exemption is allowed to the Florida member of a "controlled group of corporations" filing separate returns.”
Roger Dean Enter., Inc. v. Dep't of Rev., 371 So. 2d 101 (Fla. 4th DCA 1978). “Subsection (4) of that section provides: "Notwithstanding any other provisions of this Code, not more than one exemption under this section shall be allowed to the Florida members of a controlled group of corporations, as defined in section 1563 of the Internal Revenue Code with…”
Annotations are extracted automatically from the opinions in the
Syfert caselaw corpus and ranked by authority, recency, and
treatment. Dots show Syfertize treatment of the citing case itself.