212.1831 Credit for contributions to eligible nonprofit scholarship-funding organizations.
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/fl/title-xiv/chapter-212/212-1831A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
There is allowed a credit of 100 percent of an eligible contribution made to an eligible nonprofit scholarship-funding organization under s. 1002.395 against any tax imposed by the state and due under this chapter from a direct pay permit holder as a result of the direct pay permit held pursuant to s. 212.183 . For purposes of the dealer’s credit granted for keeping prescribed records, filing timely tax returns, and properly accounting and remitting taxes under s. 212.12 , the amount of tax due used to calculate the credit shall include any eligible contribution made to an eligible nonprofit scholarship-funding organization from a direct pay permit holder.
For purposes of the distributions of tax revenue under s. 212.20 , the department shall disregard any tax credits allowed under this section to ensure that any reduction in tax revenue received that is attributable to the tax credits results only in a reduction in distributions to the General Revenue Fund. The provisions of s. 1002.395 apply to the credit authorized by this section.