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TIP # 06ADM-02
DATE ISSUED: June 8, 2006
REVISED: July 6, 2006

ECONOMIC DEVELOPMENT CHANGES

Effective June 7, 2006, changes were made to the Enterprise Zone Program.

Sales Tax

Building Materials Used in the Rehabilitation of Real Property Located in an Enterprise Zone

Effective June 7, 2006, the refund of sales taxes paid on building materials used in the rehabilitation of real property located in an enterprise zone is available only one time per parcel of real property unless there is a change in ownership, a new lessor, or a new lessee of the real property who makes subsequent improvements to the property that would qualify for the refund. This provision is retroactive to July 1, 2005.

Enterprise Zone Jobs Credit

Effective June 7, 2006, the enterprise zone jobs credit against sales tax is amended to provide that the credit is available to businesses which demonstrate that the number of full-time jobs at their business location in an enterprise zone has increased at that same location from the number of jobs 12 months prior to the application date.

Corporate Income Tax

Enterprise Zone Jobs Credit

Effective June 7, 2006, the enterprise zone jobs credit against corporate income tax is amended to provide that the credit is available to businesses which demonstrate that the number of full-time jobs at their business location in an enterprise zone has increased at that same location from the number of jobs 12 months prior to the application date.

FOR MORE INFORMATION

This document is intended to alert you to the requirements contained in Florida laws and administrative rules. It does not by its own effect create rights or require compliance.

For forms and other information, visit our Internet site at www.myflorida.com/dor. Or call Taxpayer Services, 8:00 a.m., to 7:00 p.m., ET, Monday through Friday, excluding holidays, at 800-352-3671 or 850-488-6800.

Persons with hearing or speech impairments may call our TDD at 800-367-8331 or 850-922-1115.

For a detailed written response to your questions, write the Florida Department of Revenue, Taxpayer Services, 1379 Blountstown Highway, Tallahassee, FL 32304-2716.