Assembly Bill 934 proposes several amendments to existing statutes, primarily aimed at streamlining definitions and tax computations. The bill repeals the definition of "relative" in the context of the state lottery and eliminates a method for calculating a corporation's special economic surcharge, which was deemed redundant. Additionally, it modifies the definition of taxable property in tax incremental districts by removing references to personal taxable property, thereby focusing solely on real property.

Furthermore, the bill introduces changes to the order of tax withholdings and deposits in income tax computations, specifically incorporating withholdings from nonresident members of pass-through entities and deposits made by nonresident entertainers. These adjustments aim to clarify tax liability calculations for both individuals and corporations. Overall, the bill is presented as remedial legislation requested by the Department of Revenue, intended to enhance clarity and efficiency in tax administration.

Statutes affected:
Bill Text: 77.94(2), 77.94, 565.01(5), 565.01