Florida To Decouple From Some Pandemic Federal Tax Breaks

Florida will decouple from the increased business meal deduction and increased business interest expense limit from federal tax relief provided in response to the coronavirus pandemic, under a bill signed by the governor. 

Republican Gov. Ron DeSantis signed H.B. 7059 on Tuesday. Under the bill, the state will generally conform to the federal tax code but decouple from the Consolidated Appropriations Act's increase in the business meal deduction from 50% of expenses to 100%. Florida will also decouple from the Coronavirus Aid, Relief and Economic Security Act's  increased limit on business interest expense deductions and its deduction for qualified improvement property under the bill.

The state will also decouple from the CARES Act's extensions of special expensing rules for film, television or live theater productions.

H.B. 7059 was approved by the state House of Representatives and the Senate in April.

--Editing by Roy LeBlanc.

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