ate Issued: 07/02/98
A capital investment tax credit is available to qualified businesses, beginning July 1, 1998, for investments in new or expanding facilities in Florida.
Enterprise Florida, Inc., should be contacted to determine eligibility as a qualified high-impact business prior to expanding or locating a facility in Florida.
The cumulative investment in the state must be at least $25 million, and the business must create and maintain a minimum of 100 new full time jobs.
A corporate income tax credit of 100 percent of the "eligible capital costs" may be applied in annual amounts equal to five percent of the total "eligible capital costs" over a 20 year period. Credit is available on an annual basis and cannot be carried forward or backward. The credit becomes available after the Governor's Office of Tourism, Trade and Economic Development (OTTED) certifies that "eligible capital costs" and employment criteria have been met.
For information on how to qualify as a high-impact business, contact Crystal Sircy of Enterprise Florida, Inc., at (850) 488-6300.
s. 220.191, F.S.