Impact Report 6: House Tax Package Released
Impact Report 6: House Tax Package Released
Week five of the 2020 legislative session is in the books, and the House has released its new tax package proposal. FICPA Director of Governmental Affairs Justin Thames has an update on what the package includes, how it might change as the Senate considers its own legislation, and some key differences between the House and Senate budgets.
Also in this week’s IMPACT Report:
- Bill Tracking Updates
- Florida House Tax Package includes $100 million in cuts
- Journal of Accountancy Podcast: What’s next for potential CPA licensure changes
Sincerely
Justin Thames
Director of Governmental Affairs
Bill Tracking
SB474 – Deregulation of Professions and Occupations
Status: Now in Appropriations
Status: On Committee agenda– Finance and Tax, 02/13/20, 12:30 pm, 401 Senate Building
Status: Introduced – SJ 47
HB6021 – Corporate Income taxes
Status: Introduced – HJ 258
Status: Introduced- SJ 56
Status: Introduced -SJ 34
HB707 – Legislative Review of Occupational Regulations
Status: Original reference(s)- removed: Appropriations Committee. Referred to- Calendar
HB1141 – Taxation of Real Property
Status: Introduced -HJ 100
Status: Favorable by Commerce and Tourism; YEAS 5 NAYS 0. Now in Rules
SB1526 – Food Donation Programs
Status: Introduced -SJ 112
Status: Introduced -SJ 90
Status: Introduced -HJ 83
Other Weekly News and Highlights:
Florida House Tax Package includes $100 million in cuts
On Tuesday, the House Ways and Means Committee released its annual tax cut proposal. The proposal includes a reduction of the Business Rent Tax from 5.5 percent to 5.4 percent and a reduction of the Communication Services Tax from 4.93 percent to 4.42 percent. Read a summary of the tax package prepared by government watchdog Florida TaxWatch here.
Download the full tax package proposal here.
Journal of Accountancy Podcast: What’s next for potential CPA licensure changes
A new model proposed by the National Association of State Boards of Accountancy (NASBA) and the AICPA is designed with an eye on the future for newly licensed CPAs. Carl Mayes, CPA, AICPA associate director–CPA Quality & Evolution, provides background on the project and a look ahead to 2020.
https://www.journalofaccountancy.com/podcast/new-cpa-licensure-model.html
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