Florida Section 179 for Corporations and Exempt Organizations

House Bill 7099 was signed into law by the Governor of Florida on April 13, 2016. The Florida program updates on 2015-3.4 reflect these changes. Section 179 is no longer added back as an adjustment.

Florida has updated its IRC legislation H.B. 7099. Under the new legislation, Florida remains decoupled from bonus depreciation and retains it's bonus depreciation modification calculation. However, beginning with the 2015 tax year, Florida will not require an addback adjustment. Instead, the federal Sec. 179 expense provisions will apply for Florida tax purposes beginning with Sec. 179 expense claimed in the 2015 tax year.
 
If you have already filed your 2015 return adding back Section 179, you may need to file an amended return.