Florida Democrat seeks cut in corporate tax
- December 8, 2014
- / News Service of Florida
- / government
A House Democrat this week filed a proposal that would trim the state's corporate income tax, a longtime priority of Republican Gov. Rick Scott.
Rep. Jared Moskowitz, D-Coral Springs, filed the proposal (HB 49) on Tuesday for consideration during the 2015 legislative session.
The bill, mirroring a proposal (SB 138) filed last month by Sen. Dorothy Hukill, R-Port Orange, would increase the state's exemption on corporate income taxes.
Under current law, the first $50,000 of a corporation's net income is exempt from the tax. The bill would increase that exemption to the first $75,000 of net income.