SECTION 220.12. “Net income” defined.

Latest version.

1For purposes of this code, a taxpayer’s net income for a taxable year shall be its adjusted federal income, or that share of its adjusted federal income for such year which is apportioned to this state under s. 39220.15, 40plus nonbusiness income allocated to this state pursuant to s. 50220.16, 51less the exemption allowed by s. 57220.1458.

History.-s. 1, ch. 71-984; s. 23, ch. 83-349; s. 4, ch. 85-118; s. 14, ch. 90-203; s. 92, ch. 91-112; s. 36, ch. 96-397; s. 3, ch. 98-293.

Bills Cite this Section:

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Cited by Court Cases:

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