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TIP #08C01-04
DATE ISSUED: July 1, 2008

Capital Investment Tax Credit Amended to Include New Solar Panel Manufacturing Projects

Effective July 1, 2008, the Capital Investment Tax Credit program is amended to include new solar panel manufacturing facilities as "qualifying projects" under section 220.191(1)(h), Florida Statutes. Under this new provision, a business that establishes a qualifying project that includes locating a new solar panel manufacturing facility in this state, and generates a minimum of 400 new jobs, within six months after beginning operations, may now qualify for the Capital Investment Tax Credit.

In addition, a qualifying business may assign or transfer the annual credit, or any portion thereof, granted under this section to any other business. The business receiving the transferred or assigned credit may use the credit only in the year received, and may not carry the credit forward or backward. The Department of Revenue will adopt rules and forms necessary to administer the transfer of the tax credit.

Reference:  Florida Energy Bill Chapter 2008-227

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.