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TIP #08C01-01
DATE ISSUED: May 30, 2008

Child Care Tax Credits
No Longer Available Beginning June 30, 2008

Corporate Income Tax
Insurance Premium Tax

The Child Care Tax Credit Program related to Corporate Income Tax and Insurance Premium Tax expires on June 30, 2008, with the exception of the carry forward provisions and the provisions requiring repayment of tax credits in specified circumstances. See sections 220.19(5) and 624.5107(6), Florida Statutes.

The Department will not approve any application (Form F-1159) for the Child Care Tax Credit received on or after June 30, 2008.

Child Care Tax Credits approved before June 30, 2008, may still be claimed against corporate income tax or insurance premium tax (but not both) in the tax year they were approved. Approved credits that are unused due to insufficient tax liability may be carried forward for up to five years.

References: Sections 220.19 and 624.5107, Florida Statutes (2007).

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 website 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.

For a detailed written response to your questions, write the Florida Department of Revenue, Taxpayer Services, MS 3-2000, 5050 West Tennessee Street, Tallahassee, FL 32399-0112.