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SB 7048FLORIDA · STATEWIDESession 2026Laid on Table, refer to HB 7031
High Impact

Updates to Florida Corporate Income Tax Rules

Original title: Internal Revenue Code

February 20, 2026

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Where This Stands

Currently Laid on Table, refer to HB 7031. The next step in the legislative lifecycle is Introduced.

Procedural history

7 actions
  1. Feb 26, 2026SenateIntroduced
    Introduced
  2. Feb 25, 2026Senate
    On Committee agenda-- Appropriations, 03/02/26, 12:00 pm, 110 Senate Building
  3. Feb 25, 2026SenateCommittee
    Referred to Appropriations
  4. Feb 25, 2026SenateIntroduced
    Filed
  5. Feb 25, 2026Senate
    Submitted as Committee Bill and Reported Favorably by Finance and Tax; YEAS 7 NAYS 0
  6. Feb 20, 2026Senate
    On Committee agenda-- Finance and Tax, 02/25/26, 1:30 pm, 301 Senate Building
Show 1 earlier action
  1. Feb 20, 2026Senate
    Submitted for consideration by Finance and Tax

Version history

Only one version on file - nothing to compare yet. As later stages (committee substitute, engrossed, enrolled) are captured, the redline appears here.

View official text →

The Frame

What this does

Businesses operating in Florida must calculate their state corporate income tax differently than their federal tax, which may change the amount of tax owed to the state for the 2026 tax year and beyond.

Who is mentioned in the record

Potentially affected actors named in the source documents. Mention is not a position.

Corporate taxpayers

Businesses subject to Florida corporate income tax must modify how they calculate their taxable income to comply with these state-specific adjustments.

Florida Department of Revenue

The department is tasked with administering these tax changes and is granted authority to issue emergency rules.

What changed

Last recorded activity February 20, 2026.

What's next

Introduced.

Summary

This bill updates Florida's corporate income tax code to align with federal tax changes made by the U.S. government. It requires businesses to adjust their state taxable income to account for specific federal deductions, such as and business interest expenses, ensuring these federal changes do not automatically reduce state tax revenue.

Key Facts

You don't have to trust us. Each fact below is taken straight from the official document - click any one to see the exact passage, highlighted in the original.

Frequently Asked Questions

How does this bill affect my business's state tax return?
You must adjust your federal taxable income by adding back certain federal deductions (like ) and then subtracting them over a seven-year period as prescribed by the new state rules.
Does this change apply to previous tax years?
The bill operates retroactively to January 1, 2026, but it specifically prohibits the retroactive application of certain federal amendments to taxable years beginning before that date.

Why It Matters

Businesses operating in Florida must calculate their state corporate income tax differently than their federal tax, which may change the amount of tax owed to the state for the 2026 tax year and beyond.

News Coverage

No news coverage found yet. Articles are indexed twice daily.

Lobbying Activity

AARP

$4,110,000

2026

HEALTH ISSUESMEDICARE/MEDICAIDLAW ENFORCEMENT/CRIME/CRIMINAL JUSTICEPHARMACY

P.L. 119-21, One Big Beautiful Bill Act H.R. 8867, Planning for Long-term Aging Needs (PLAN) Act H.R. 5861, Legacy Act of 2025 H.R. 9393, the Lower Costs, More Transparency Act. H.R. 9396, the Prior Authorization Accountability Act. S. 4916, the Aging with Artificial Intelligence Act. H.R. 8100, Safe Staffing Saves Lives Act. S. 3886, Nurses Belong in Nursing Homes Act. H.R. 6766/S. 3492, the Essential Caregivers Act of 2025. H.R. 7966/S. 4118, Hospice Care Accountability, Reform, and Enforcement (Hospice CARE) Act. S. 2120, the Older Americans Act Reauthorization Act of 2025 H.R. 5575, the Firefighters Assisting Seniors to Emergency Response (FASTER) Act of 2025. H.R. 3954/S. 4641, Improving Access to Medicare Coverage Act. H.R.5554/S.2831, Stand Strong for Medicare Act. S. 3439/H.R. 6735, Connecting Caregivers to Medicare Act and efforts related to the bill S. 1227/H.R. 2491, Alleviating Barriers for Caregivers Act S. 668/H.R. 3183, Supporting Access to Falls Education and Prevention and Strengthening Training Efforts and Promoting Safety Initiatives (SAFE STEPS) for Veterans Act of 2025 CMS-1851-P, Hospice Proposed rule. CMS-1843-P, Skilled Nursing Facility Proposed rule. CMS-1844-P, Home Health Proposed rule. No bill number. Health care transparency. No bill number. Discussed use of artificial intelligence and health data technology. No bill number. Discussed health-related policies and activities around the fall respiratory virus season. No bill number. Discussed health insurance affordability proposals. No bill number. Discussed Nursing Home staffing standards, safety, and quality. No bill number. Discussed Nursing home transparency and ownership requirements. No bill number. Discussed home health, hospice, and long-term care. No bill number. Discussed falls prevention. No bill number. Discussed social isolation. No bill number. Discussed HUD Assisted Living Requirements No bill number. Discussed family caregiving. No bill number. Discussed AARP paper on Medicare Caregiver Training Services. No bill number. Discussed Medicaid community engagement interim final rule, including the family caregiver exemption. No bill number. Discussed the paid direct care workforce in long-term care. No bill number. Discussed the unaffordability of long-term care. No bill number. Discussed Money Follows the Person Rebalancing Demonstration Program and Medicaid HCBS spousal impoverishment protections. No bill number. Discussed Medicaid fraud and family caregivers, Medicaid self-direction programs. No bill number. Discussed sandwich generation family caregiver hearing and submitted a statement for the record discussing family caregivers and sandwich generation caregivers, programs that support them, AARP caregiving resources, and federal policies to support sandwich generation caregivers and caregivers more broadly. No bill number. Discussed long-term care. No bill number. CMS-2453-NC; Medicaid Program; 2028 Medicaid Home and Community-Based Services Quality Measure Set Submitted comments No bill number. Discussed expanding access to home care. No bill number. Discussed the increasing cost of home care No bill number. Discussed HSA use for telehealth chronic care management services/subscriptions. No bill number. Discussed artificial intelligence and technology

BRUMIDI GROUP

on behalf of BATTERY COUNCIL INTERNATIONAL

S-3 GROUP

on behalf of ABBOTT LABORATORIES

CAPITOL TAX PARTNERS, LLP

on behalf of MONDELEZ INTERNATIONAL

MILLER & CHEVALIER CHARTERED

on behalf of MCDONALD'S CORPORATION

MILLER & CHEVALIER CHARTERED

on behalf of NETFLIX, INC.

GROOM LAW GROUP, CHARTERED

on behalf of INSTRIDE

HOLLAND & KNIGHT LLP

on behalf of TAKEDA PHARMACEUTICALS AMERICA, INC.

KOUNTOUPES DENHAM CARR & REID, LLC

on behalf of AIRBNB

SMALL BUSINESS MAJORITY FOUNDATION, INC.

Voting Record

Sponsors

Discoveries

Patterns POLISCOPE noticed across the record. These are observations to investigate, not conclusions.

policy shift90% confidence

State-Federal Tax Decoupling

The bill demonstrates a consistent policy of 'decoupling' Florida's tax code from federal bonus depreciation rules to protect state revenue, requiring a multi-year recovery process for taxpayers.

Connected Entities

dollar_amount301Senate Building locationMap →
date2026-02-25Date of favorable reportMap →
dollar_amount110Senate Building locationMap →
date2026-02-26Date of introductionMap →
locationSenate BuildingLocation of committee meetingsMap →
date2026-02-20Date of submissionMap →
organizationFinance and TaxCommittee reviewing the billMap →
organizationAppropriationsCommittee receiving the bill after Finance and Tax reviewMap →

Sources

Open source document

openstates.org

Analysis Score

0–100
  • Significance80
    How much this matters to a regular citizen
  • Controversy20
    Intensity of disagreement among stakeholders
  • Entertainment5
    Compellingness for a non-policy-wonk reader
  • Buzz10
    Current news / social attention level

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