§ 561.1212, Fla. Stat. · Chapter 561. BEVERAGE LAW: ADMINISTRATION
Credit for contributions to the New Worlds Reading Initiative.
Text — 2026 Florida Statutes
Beginning January 1, 2022, there is allowed a credit of 100 percent of an eligible contribution made to the New Worlds Reading Initiative under s. 1003.485 against any tax due under s. 563.05, s. 564.06, or s. 565.12, except excise taxes imposed on wine produced by manufacturers in this state from products grown in this state. However, a credit allowed under this section may not exceed 90 percent of the tax due on the return on which the credit is taken. For purposes of the distributions of tax revenue under ss. 561.121 and 564.06(10), the division shall disregard any tax credits allowed under this section to ensure that any reduction in tax revenue received which is attributable to the tax credits results only in a reduction in distributions to the General Revenue Fund. The provisions of s. 1003.485 apply to the credit authorized by this section.
Notes and commentary — not statutory text
History
s. 8, ch. 2021-193.
Note 1
Note.—Section 12, ch. 2021-193, provides that “[t]he Department of Revenue is authorized, and all conditions are deemed met, to adopt emergency rules under s. 120.54(4), Florida Statutes, for the purpose of implementing provisions related to the New Worlds Reading Initiative Tax Credit created by this act. Notwithstanding any other law, emergency rules adopted under this section are effective for 6 months after adoption and may be renewed during the pendency of procedures to adopt permanent rules addressing the subject of the emergency rules.”
Source of truth
- Edition
- 2026 Florida Statutes
- Official file
- https://www.leg.state.fl.us/Statutes/index.cfm?App_mode=Display_Statute&URL=0500-0599/0561/0561.html
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This section cites
Provisions in this library that the text above cites, as it prints each citation. A range cited as “ss. 61.13-61.16” links its first and last provisions.
The Florida Statutes
- § 561.121, Fla. Stat.Deposit of revenue.Printed as ss. 561.121 and 564.06(10)
- § 563.05, Fla. Stat.Excise taxes on malt beverages.Printed as s. 563.05
- § 564.06, Fla. Stat.Excise taxes on wines and beverages.Printed as s. 564.06; ss. 561.121 and 564.06(10)
- § 565.12, Fla. Stat.Excise tax on liquors and beverages.Printed as s. 565.12
Cited by 1 provision
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