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TIP # 08C01-03
DATE ISSUED: July 1, 2008

Corporate Income Tax and Franchise Tax
Florida Renewable Energy Production Tax Credit
Section 220.193, Florida Statutes

Some clarifying amendments were made in 2008 to Chapter 220.193, Florida Statutes (F.S.), effective retroactively to the original enactment date.

The term "sale" or "sold" has been revised to include the use of electricity by the producer of such electricity that decreases the amount of electricity the producer would otherwise have to purchase.

The definition of taxpayer has been clarified to include a general partnership, limited partnership, limited liability company, trust or other artificial entity in which a corporation owns an interest. Additional information will need to be included in the application for an allocation of the credit by the corporate owners of these entities.

A taxpayer's use of the credit granted pursuant to this section does not reduce the amount of any credit available to such taxpayer under section 220.186 F.S.

Reference:  Chapter 2008-227, Laws of Florida

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.