Tax News

CCH (cch.taxgroup.com) reports:

  The Florida corporate income tax credit for contributions made to nonprofit scholarship-funding organizations is amended to provide that children in foster care or siblings of continuing students are eligible to receive scholarships, to increase the total amount of credits that may be granted in a fiscal year, to allow organizations to use a percentage of contributions for administrative expenses, to limit the amount of unused contributions that may be carried over, and to increase the amount of scholarships that may be granted to each student per fiscal year.