Scott Signs Corporate Tax Cut

TALLAHASEE (CBS4)-  Gov. Rick Scott on Friday signed a bill that will provide a $30 million cut in corporate-income taxes, a relatively small step in Scott’s campaign to phase out the tax.

HB7185 will increase the state’s corporate-income tax exemption from $5,000 to $25,000.

That means companies with taxable income less than $25,000 will be exempt from corporate-income taxes — a change that Republicans said will help small businesses.

Lawmakers said they could not afford to go along with Scott’s more-ambitious proposals to cut corporate-income taxes because of the state’s budget problems.

Scott signed the bill Friday without any fanfare, with his office notifying reporters after 7 p.m.

(The News Service of Florida contributed to this report.)

  • Harriett

    Yea, sign that bill on a Friday night with little fanfare. In other words hoping that people of Florida will not notice that you are cutting the corporate tax to take more from the people and give to your rich pals.

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