By: Katrina Callaway, FIC General Counsel An important bill for all insurance companies was filed by Sen. Annette Taddeo (D-Miami), on December 22, 2017. SB 1354 repeals all “tax preferences” provided in chapter 624, chapters 192-220, and chapters 561-565 on July 1, 2022 unless specifically reviewed and reenacted by the Legislature. The definition of “tax…
For Immediate Release: May 1, 2017Contact: Katie Betta. (850) 487-5229 Senate Appropriations Committee Passes Broad-Based Tax Relief PackageBack-To-School Sales Tax Holiday, Sales Tax Exemption for Feminine Hygiene Products, Lower Business Rent Tax Tallahassee–The Florida Senate Committee on Appropriations, chaired by Senator Jack Latvala (R-Clearwater) today passed House Bill (HB) 7109, Taxation. The legislation will deliver…
DoingOurPart_FLInsIndustry 4-5-17.pdf
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Federal Legislation Update: There are two proposals at the federal level that may be included in upcoming corporate tax reform plans that would have a disastrous impact on the insurance industry for our state:The first proposal, expected to be reintroduced by US Rep. Richard Neal (D-MA), would deny tax deductions for certain reinsurance premiums paid…
For Immediate Release: Tuesday, March 21, 2017Contact: Christina Johnson, Christina@On3PR.com, 850.391.5040 Statement by Cecil Pearce, President of the Florida Insurance Council, on SB 378 Passing the Senate Appropriations Subcommittee on Finance and Tax Today (Tallahassee, Fla.) – Below is a statement by Cecil Pearce, President of the Florida Insurance Council, on SB 378 before…
By: Sam Miller, FIC Consultant SB 378 Taxation — by FloresThis amendment was adopted 728458 With the bill sponsor calling the insurer and business community arguments against the salary tax credit repeal bill “baloney,” Senate President Joe Negron’s initiative to repeal the $300 million insurance premium tax salary credit passed the Senate Finance & Tax…
By: Katrina Callaway, FIC General Counsel A vote on the bill to repeal the premium tax salary credit was not taken by the Senate Finance and Tax Committee during its meeting on March 15, 2017. In fact, the committee never even brought the bill up for consideration and discussion during their meeting. Although the…
By: Katrina Callaway, FIC General Counsel All member sponsored bills have been filed for the 2017 Session. Following is a summary of bills filed as of March 12, 2017 that FIC is following related to budget, taxes, and fees. The repeal of the salary tax credit for insurance premium taxes is included in the summary.…
For Immediate Release: Monday, March 6, 2017Contact: Christina Johnson, Christina@On3PR.com, 850.391.5040 Florida’s Top Business Organizations, Insurance Council Urge Lawmakers to Keep Tax Benefit for Florida Consumers-SB 378 produces no net relief for Florida taxpayers, could be a major job killer- (Tallahassee, Fla.) – The Associated Industries of Florida (AIF), the Florida Chamber of…