Corporate Income Tax
Scott on Thursday spoke to a national convention of Realtors where he said he’ll seek legislation that increases the number of businesses that are exempt from paying the tax.
A new budget forecast released this week by state economists shows the state is expecting in 2013 to bring in enough money to meet its needs for public schools and health care programs, with $1 billion still left for reserves.
Forty years ago Florida voters implemented on corporate income after their new governor stumped the state with a pair of Sears shirts, one bought in the state and the other in neighboring Georgia, which already had that tax.
The state of Florida was already set to face a budget shortfall of roughly $3.62 billion. But, numbers being reconciled on Friday boosted that number to almost $4 billion, after some revenue revisions by state economists that paint a less favorable view of the state’s economic recovery.