In 2025, the IRS issues a regulation providing that all corporations must file an additional tax form that specifically states how much the corporation has invested in crypto-currencies. In 2027, the U.S. Supreme Court upholds the constitutionality of the IRS regulation. In 2028, Florida amends its state constitution to specifically provide that corporations incorporated in Florida do not need to file any crypto-currency information with any agency or department of the federal government, including the IRS. You advise a corporation that is incorporated in Florida. The Board of Directors asks you for a brief recommendation as to whether it needs to include the crypto filing in its upcoming federal tax returns. What do you tell the Board

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Answer As the corporation is incorporated in Florida which has amended its state constituti... View the full answer