(1) Beginning with taxable years ending in 2012, a taxpayer who has earned, but not yet taken, a credit for emergency excise tax paid under former s. 221.02 may take such credit against the tax imposed by this chapter.
(2) If a credit granted pursuant to this section is not fully used in taxable years ending in 2012 because of insufficient tax liability on the part of the taxpayer, the unused amount may be carried forward for a period not to exceed 5 years. The carryover credit may be used in a subsequent year when the tax imposed by this chapter for such year exceeds the credit for such year, after applying the other credits and unused credit carryovers in the order provided in s. 220.02(8).
History.—s. 16, ch. 2011-76.
Structure Florida Statutes
Title XIV - Taxation and Finance
Part II - Tax Imposed; Apportionment (Ss. 220.11-220.198)
220.1105 - Tax imposed; automatic refunds and downward adjustments to tax rates.
220.12 - “Net income” defined.
220.13 - “Adjusted federal income” defined.
220.131 - Adjusted federal income; affiliated groups.
220.15 - Apportionment of adjusted federal income.
220.151 - Apportionment; methods for special industries.
220.152 - Apportionment; other methods.
220.153 - Apportionment by sales factor.
220.16 - Allocation of nonbusiness income.
220.181 - Enterprise zone jobs credit.
220.182 - Enterprise zone property tax credit.
220.183 - Community contribution tax credit.
220.184 - Hazardous waste facility tax credit.
220.1845 - Contaminated site rehabilitation tax credit.
220.185 - State housing tax credit.
220.186 - Credit for Florida alternative minimum tax.
220.1875 - Credit for contributions to eligible nonprofit scholarship-funding organizations.
220.1876 - Credit for contributions to the New Worlds Reading Initiative.
220.1877 - Credit for contributions to eligible charitable organizations.
220.1895 - Rural Job Tax Credit and Urban High-Crime Area Job Tax Credit.
220.1899 - Entertainment industry tax credit.
220.19 - Child care tax credits.
220.191 - Capital investment tax credit.
220.1915 - Credit for qualified railroad reconstruction or replacement expenditures.
220.193 - Florida renewable energy production credit.
220.194 - Corporate income tax credits for spaceflight projects.
220.195 - Emergency excise tax credit.