Companies pass profits out of Florida, costing the state millions

The main reason that so few businesses pay any corporate income tax is that Florida chooses to exempt entire classes of companies from the tax. These types of companies are known as pass-through businesses because the federal government exempts their profits from the federal corporate income tax. Instead, their profits pass through to shareholders who pay federal personal income tax on those profits. [Source: Orlando Sentinel]

With thrills and lights, theme park conclave back in Orlando

Detroit has the auto show. Las Vegas has the electronics show. In Orlando, it's all about theme and amusement park rides, food and amenities. The annual convention of thrills, flashing lights and whirling rides is back in town this week. The International Association of Amusement Parks and Attractions, otherwise known as IAAPA, has been holding the trade show at the Orange County Convention Center in Orlando for years. [Source: South Florida Sun-Sentinel]

Florida Trend Exclusive
Florida Aquarium reproduces coral in a lab

Scientists at Tampa’s Florida Aquarium, after more than two years of research, have successfully induced the spawning of pillar coral in a lab. The experiment’s success offers hope for the future of the Florida Reef, a tract of coral that stretches along Florida’s southeast coast from Martin County to the Florida Keys. [Source: Florida Trend]

Mayo Clinic in Jacksonville plans North America’s first carbon ion therapy center to fight cancer

The Mayo Clinic plans to build a carbon ion treatment facility to fight cancer at its Jacksonville campus, which Mayo says would be the first of its kind in North America. Carbon ion therapy has the potential to destroy cancer cells and tumors that are resistant to more traditional radiation therapy methods, without damaging surrounding tissue, said Steven Buskirk, chairman of Mayo’s radiation oncology department in Jacksonville. [Source: Florida Times-Union]

Florida reviews water quality limits every 3 years. The public has until Friday to chime in

Floridians have until Friday to weigh in on whether the state should set limits for toxic algae in water. Florida is required to conduct reviews of water quality standards every three years under the federal Clean Water Act. This year, the state’s blue green algae task force and environmentalists have been lobbying for standards to address regular toxic outbreaks in the St. Lucie, Caloosahatchee and other Florida waterways. [Source: WJCT]

ALSO AROUND FLORIDA:

› Florida’s new consumer advocate tackles open Hurricane Michael claims [Insurance Journal]
Florida’s new Insurance Consumer Advocate Tasha Carter has been busy since taking office August 1. With more than 12,000 Hurricane Michael claims still open, according to the Florida Office of Insurance Regulation, one of Carter’s top priorities has been to investigate the reason for the open claims from the devastating Category 5 storm and how the recovery process can be improved going forward.

› Give Miami Day has a new look — and an ‘Amazon-like’ way to find nonprofits [Miami Herald]
Give Miami Day, one of the country’s largest annual giving events, is using new tech this year— including an “Amazon-like” web feature to help raise funds for more than 800 nonprofit organizations in Miami-Dade County.

› Skepticism for Sarasota’s Bobby Jones golf course subsidy [Sarasota Herald-Tribune]
As Sarasota continues to subsidize the cash-strapped Bobby Jones Golf Club, it looks to the community for input on what to do with sections of the municipal course now earmarked for public park space. City commissioners on Monday approved a resolution that pumps a $230,000 subsidy from the city’s reserves so that the historic course could start the new fiscal year without being in the hole. That’s in addition to $650,000 given to the golf course to cover last year’s losses at the beleaguered golf course.

› Florida Ocean Alliance seeks public input on addressing coastal issues [Florida Today]
Port Canaveral on Wednesday will host a public hearing of the Florida Ocean Alliance, which is seeking public input on coastal issues. At the direction of the Florida Legislature, the Florida Ocean Alliance is drafting a strategic plan to address Florida’s ocean and coastal issues, as well as recommending actions to help protect the state's resources for the future.

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› Only 30 percent of Miami’s millennial renters are saving enough to buy, report says [Miami Herald]
Millennial renters in South Florida want to buy, but a study found that less than half of the population can afford to do so. A study by Apartment List, an online rental listing platform, surveyed renters ages 23 to 38 over the past five years within 16 U.S. metro areas.

› Immersive art meets craft beer at future St. Pete and Tampa compounds [Tampa Bay Times]
Tampa Bay is already flush with museums, galleries, artist studios, murals and art festivals. But now, groups on both sides of the bay are leveling up by creating “arts attractions,” artist-made immersive, hands-on experiences aimed at families.

› Ex-Tupperware CEO gets $2 million in severance, $125,000 consultant deal [Orlando Sentinel]
Former Tupperware Brands Chairman and CEO Tricia Stitzel’s separation agreement includes $1,983,279 in severance along with other benefits, according to documents filed with the Securities and Exchange Commission.

› Embry-Riddle Research Park Partner WeatherFlow Inc. releases all-in-one weather station [Florida Trend]
Embry-Riddle Aeronautical University Research Park innovator WeatherFlow Inc. continues to bring innovation and jobs to Central Florida, most recently with its latest product, Tempest, a personal weather system centered on a smart phone app that provides real-time data and a pinpoint forecast delivered through a cutting-edge weather station and sophisticated modeling from WeatherFlow’s data science team.