Florida Passes Legislation to Extend Tax Refund Program

On June 20th, Florida Governor Jeb Bush signed House Bill 1483 into law. This bill provides for a five year extension of the Economic Development Trust Fund tax refund program for defense contractors and target industry businesses. The tax refund program will now expire on June 30, 2010. The bill also adds the communications services tax to the taxes that are refundable for qualifying parties. The communications services tax will be refundable retroactive to October 1, 2001. Local communications taxes and state gross receipts taxes will not be refundable even though they are administered with the state communications services tax. (H.B. 1483, Regular Session 2005, Signed into law June 20th, 2005)

Posted on November 21, 2005