DoingOurPart_FLInsIndustry 4-5-17
DoingOurPart_FLInsIndustry 4-5-17.pdf
Doing Our Part Florida Insurance Industry
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FIC: Federal Reinsurance Tax
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…
Statement by Cecil Pearce, President of the Florida Insurance Council, on SB 378 Passing the Senate Appropriations Subcommittee on Finance and Tax Today
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…
FIC: Salary Credit Repeal Would Finance Commercial Rent Tax Reduction
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…
FIC: Vote on Premium Tax Credit Repeal Postponed
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…
FIC: Tax Bills Filed For 2017 Session
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.…
FIC Press Release: Florida’s Top Business Organizations, Insurance Council Urge Lawmakers to Keep Tax Benefit for Florida Consumers
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…
FIC: Premium Salary Tax Credit Repeal Proposed by Senate
By: Katrina Callaway, FIC General Counsel On February 24, 2017, Sen. Flores filed SB 378 which repeals the insurance premium tax credit and replaces it with a two percent reduction in the communications service tax (CST). The CST is a state tax on cell phone service, cable TV, and satellite TV. Additional information about the…