Corporate Income Tax Cut Proposed In House
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TALLAHASSEE (CBSMiami/NSF) - In an issue that has long been a priority of Gov. Rick Scott, a House Republican has filed a bill that would reduce corporate-income taxes.
Rep. Jennifer Sullivan of Mount Dora's bill is identical to a measure filed last month by Senate Finance and Tax Chairwoman Dorothy Hukill of Port Orange.
The bills will be considered during the 2016 legislative session, which starts in January.
The bills would increase the corporate income-tax exemption from $50,000 to $75,000. Increasing the exemption would reduce --- or even potentially eliminate --- tax bills for businesses. Lawmakers also considered the proposal during the 2015 session but did not pass it.
The News Service of Florida contributed to this report.