Florida legislation · 2026 Regular Session
Florida S238: Corporate Income Tax
Status: Failed, March 13, 2026
Revising the definition of the term "adjusted federal income" to prohibit specified deductions, limit certain carryovers, and require subtractions of certain dividends paid and received within a unitary combined group to determine subtractions from taxable income; repealing a provision relating to the adjusted federal income of affiliated groups; specifying circumstances under which a corporation is considered a member of a unitary combined group; specifying requirements for, limitations on, and prohibitions in calculating and reporting income in a unitary combined group return, etc.
What the bill says
An act relating to corporate income tax; amending s. 220.03, F.S.; revising the definition of the term âtaxpayerâ; defining the term âunitary combined groupâ; amending s. 220.13, F.S.; revising the definition of the term âadjusted federal incomeâ to prohibit specified deductions, limit certain carryovers, and require subtractions of certain dividends paid and received within a unitary combined group to determine subtractions from taxable income; conforming provisions to changes made by the act; repealing s…
From the introduced text, October 17, 2025:
A bill to be entitled An act relating to corporate income tax; amending s. 220.03, F.S.; revising the definition of the term âtaxpayerâ; defining the term âunitary combined groupâ; amending s. 220.13, F.S.; revising the definition of the term âadjusted federal incomeâ to prohibit specified deductions, limit certain carryovers, and require subtractions of certain dividends paid and received within a unitary combined group to determine subtractions from taxable income; conforming provisions to changes made by the act; repealing s. 220.131, F.S., relating to the adjusted federal income of affiliated groups; creating s. 220.136, F.S.; specifying circumstances under which a corporation is considered a member of a unitary combined group; creating s. 220.1363, F.S.; defining the term âunitary combined reporting methodâ; specifying requirements for, limitations on, and prohibitions in calculating and reporting income in a unitary combined group return; requiring all members of a unitary combined group to use the unitary combined reporting method; defining the term âsaleâ; specifying requirements for designating the filing member and the taxable year of the unitary combined group; specifying income reporting requirements for certain members of the unitary combined group; requiring that a unitary combined group return include a specified computational schedule and domestic disclosure spreadsheet; authorizing the executive director of the Department of Revenue to take specified actions under certain circumstances; authorizing the department …
Sponsors
- Smith, David (R, HD-038) · primary sponsor
- Smith, Carlos (D, SD-017) · primary sponsor
Latest actions
- : Died in Commerce and Tourism
- : Introduced
- : Referred to Commerce and Tourism; Finance and Tax; Appropriations
- : Filed
Subjects: Commerce and Tourism, Finance and Tax, Appropriations
Common questions
- What is S238?
- S238 is a bill in the Florida Legislature (2026 Regular Session): Corporate Income Tax.
- What does S238 do?
- In its own words: An act relating to corporate income tax; amending s. 220.03, F.S.; revising the definition of the term âtaxpayerâ; defining the term âunitary combined groupâ; amending s. 220.13, F.S.; revising the definition of the term âadjusted federal incomeâ to prohibit specified deductions, limit certain carryovers, and require subtractions of certain dividends paid and received within a unitary combined group to determine subtractions from taxable income; conforming provisions to changes made by the act; repealing s…
- What is the status of S238?
- Failed as of March 13, 2026. Latest action: Died in Commerce and Tourism (March 13, 2026).
- Who sponsored S238?
- Smith, David (R, HD-038), with 1 co-sponsor.
- Where is the official record for S238?
- On the Florida Legislature website: https://www.flsenate.gov/Session/Bill/2026/238
Source: official Florida record. Tracked by Delilah, AI for legislation across all 50 states and Congress.