Florida Statute 220.186 - Full Text and Legal Analysis

The 2025 Florida Statutes

Title XIV
TAXATION AND FINANCE

Chapter 220
INCOME TAX CODE

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F.S. 220.186

220.186 Credit for Florida alternative minimum tax.—

(1) A taxpayer required to determine taxable income pursuant to s. 220.13(2)(k) shall be allowed a credit against the tax imposed by this chapter in any subsequent taxable years.

¹(2) The credit pursuant to this section shall be the amount of the excess, if any, of the tax paid based upon taxable income determined pursuant to s. 220.13(2)(k) over the amount of tax which would have been due based upon taxable income without application of s. 220.13(2)(k), before application of this credit without application of any credit under s. 220.1875, s. 220.1876, s. 220.1877, or s. 220.1878.

(3) The amount of credit allowable in any subsequent taxable years shall not exceed the excess, if any, of the amount of tax computed under this chapter without application of s. 220.13(2)(k) over the amount of tax computed with application of s. 220.13(2)(k), whether or not such paragraph is required to compute taxable income for the year.

History.—s. 15, ch. 87-99; s. 16, ch. 90-203; s. 1, ch. 2009-108; s. 8, ch. 2010-24; s. 32, ch. 2021-31; s. 6, ch. 2021-193; s. 20, ch. 2023-17.

¹Note.—

A. Section 12, ch. 2021-193, provides that “[t]he Department of Revenue is authorized, and all conditions are deemed met, to adopt emergency rules under s. 120.54(4), Florida Statutes, for the purpose of implementing provisions related to the New Worlds Reading Initiative Tax Credit created by this act. Notwithstanding any other law, emergency rules adopted under this section are effective for 6 months after adoption and may be renewed during the pendency of procedures to adopt permanent rules addressing the subject of the emergency rules.”

B. Section 43, ch. 2023-17, provides:

“(1) The Department of Revenue is authorized, and all conditions are deemed met, to adopt emergency rules under s. 120.54(4), Florida Statutes, for the purpose of implementing provisions related to the Live Local Program created by this act. Notwithstanding any other law, emergency rules adopted under this section are effective for 6 months after adoption and may be renewed during the pendency of procedures to adopt permanent rules addressing the subject of the emergency rules.

“(2) This section expires July 1, 2026.”

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Amendments to 220.186

Annotations, Discussions, Cases:

Cases Citing Statute 220.186

Total Results: 1

United States v. Demetris Hill

Court of Appeals for the Eleventh Circuit | Filed: Oct 4, 2024 | Docket: 68387792

Published

Argued: Mar 29, 2024

disability requirements of the law.” 20 C.F.R. § 220.186(a); see 20 C.F.R. § 220.140 (“If the claimant