Gov. Rick Scott could get some corporate tax relief after all
Senate President Mike Haridopolos said tonight that some corporate tax relief was still in play between the two chambers. A cut to the business tax rate - a priority for Gov. Rick Scott - appears off the table. Instead, Haridopolos said lawmakers might increase the corporate income tax exemption from $5,000 to $25,000. Such a move would seem to get lots of bang for little cost to the state: It would remove from the rolls roughly half of the 30,000 Florida businesses that pay the tax at a cost of between $30 million to $37 million. Boosting the corporate income tax exemption is similar to the method former Gov. Jeb Bush used to phase out the intangibles tax. The Buzz is Scott has signed off on the change and would view such a deal as a "huge win."