Experiential Learning Tax Credit Program

The Experiential Learning Tax Credit Program provides an incentive to qualified businesses for employing apprentices, preapprentices, and student interns for taxable years that begin within calendar years 2022-2025.

• The tax credit is $2,000 per apprentice, preapprentice, or student intern.
• The maximum tax credit per year is $10,000 (five apprentices, preapprentices, or student interns x $2,000 each).
• $2.5 million is available for each year of the program.
• The credit may be carried forward up to two taxable years.
• Apply online or submit a paper Florida Experiential Learning Tax Credit Program Application for Tax Credit (Form F-1198) with the Florida Department of Revenue once all qualifications have been met and required documentation is available.

References: Section 220.198, F.S., and Tax Information Publication #23C01-02

Individuals with Unique Abilities Tax Credit Program

The Individuals with Unique Abilities Tax Credit Program provides an incentive to qualified taxpayers for employing certain qualified employees with a physical or intellectual impairment during taxable years that begin within calendar years 2024-2026.

• The tax credit is equal to one dollar for each hour the qualified employee worked during the taxable year, up to 1,000 hours.
• The maximum credit per taxpayer is $10,000 per taxable year.
• $5 million is available for each year of the program.
• Unused credit may be carried forward for five taxable years.
• Apply online or submit a paper Florida Individuals with Unique Abilities Tax Credit Program – Application for Tax Credit (Form F-11992) with the Florida Department of Revenue.

References: Section 220.1992, F.S., and Tax Information Publication #24C01-01

Rural Job Tax Credit

The Rural Job Tax Credit Program provides an incentive for eligible businesses, located within designated rural counties, to create new jobs.

• The tax credit can range from $1,000 to $1,500 per qualified employee.
• A business may receive up to $500,000 in tax credits during any one calendar year for its efforts in creating jobs.
• The credit may be carried forward for five years.
• File a Rural Job Tax Credit Program Application for Eligibility (Form RU-J) with the Florida Department of Commerce.

References: Sections 220.1895 and 212.098, Florida Statutes (F.S.), and Tax Information Publication #01A01-06

Urban High-Crime Area Job Tax Credit

The Urban Job Credit Program provides an incentive for eligible businesses, located within designated urban areas, to create new jobs.

• The credit can range from $500 to $2,000 per qualified employee.
• The credit may be carried forward for five years.
• File an Urban Job Credit Program Application for Eligibility (Form UR-J) with the Florida Department of Commerce.

References: Sections 220.1895 and 212.097, F.S.

Subtraction for Florida Employees Included in Calculation of Federal Employment Credits

This is a deduction for the amount of wages and salaries paid to Florida employees for the taxable year for which no deduction is allowed under Section 280C(a), Internal Revenue Code, relating to credit for employment of certain new employees.

Reference: Section 220.13(1)(b)3, F.S.

Capital Investment Tax Credit

This credit is available to businesses in a designated high-impact sector (e.g., silicon technology, transportation industries, or solar panel manufacturing facilities).

• The business must establish a qualified project which results in a cumulative capital investment of at least $25 million.
• The project must be certified by the Florida Department Commerce. An annual credit may be claimed for up to 20 years in an annual amount up to 5% of the eligible capital costs generated by a qualifying project.

References: Section 220.191, Florida Statutes (F.S.), Rule 12C-1.0191, Florida Administrative Code (F.A.C.), Tax Information Publication #98C1-06 , and Tax Information Publication #08C01-04

Community Contribution Tax Credit

A credit of 50% of a qualified community contribution (cash, property, or goods) to an eligible sponsor for a project, as defined in Section 220.03(1)(t), F.S., is allowable.

• The annual amount granted is up to $200,000 per business.
• The credit may be carried over for five years.
• File an Application for a Community Contribution Tax Credit (Form 8E-17TCA#01) with the Florida Department of Commerce.
• Attach the credit approval letter from the Department of Commerce to the Florida Corporate Income/Franchise Tax Return (Form F-1120) for the taxable year in which the donation is made.

Reference: Section 220.183, F.S.

Contaminated Site Rehabilitation Tax Credit (Also Known As the Voluntary Cleanup Tax Credit)

This credit is available to taxpayers that voluntarily rehabilitate brownfield sites or sites contaminated with dry-cleaning solvent.

• The credit must be approved by the Florida Department of Environmental Protection.
• The credit is for 50% of rehabilitation costs, up to $500,000 per site per year.
• The credit may be carried forward for five years.

References: Section 220.1845, F.S., and Tax Information Publication #98C1-04

Credit for Manufacturing of Human Breast Milk Derived Human Milk Fortifiers

Available for taxable years that begin within the 2023 and 2024 calendar years, the credit is for 50% of the cost of equipment purchased for use in the production of human breast milk derived human milk fortifiers. Such purchase must be made on or before the date the taxpayer is required to file its corporate income tax return.

• Submit form Florida Credit for Manufacturing of Human Breast Milk Derived Human Milk Fortifiers – Application for Tax Credit (Form F-11991) with the Florida Department of Revenue.
• Unused credit may be carried forward for five years.

References: Section 220.1991, F.S., and Tax Information Publication #23C01-03

Credit for Qualified Railroad Reconstruction or Replacement Expenditures

This credit is available to Class II or Class III railroads. The credit is equal to 50% of a qualifying railroad’s qualified expenditures incurred within Florida during a taxable year. The amount of the credit may not exceed $3,500 multiplied by the number of miles of railroad track owned or leased in Florida by the qualifying railroad as of the end of the calendar year prior to the taxable year in which the qualified expenditures were incurred.

• The qualifying railroad must apply online or submit a paper form Florida Credit for Qualified Railroad Reconstruction or Replacement Expenditures – Application for Credit (Form F-11915), including supporting documentation, no later than May 1 of the calendar year following the year in which the qualified expenditures were made.
• Unused credit may be carried forward for five taxable years.
• Unused credit may be transferred to a taxpayer under Ch. 220, F.S., that either transports property using the rail facilities of any qualifying railroad, or furnishes railroad-related property or services, as those terms are defined in 26 C.F.R. s. 1.45G-1(b) (March 18, 2018), to any railroad operating in Florida, or is a railroad. The transferor is required to notify the Department of a credit transfer by submitting form Florida Credit for Qualified Railroad Reconstruction or Replacement Expenditures – Notice of Intent to Transfer a Credit (Form F-11915T).

References: Section 220.1915, F.S., Rule 12C-1.01915, F.A.C.

Entertainment Industry Tax Credit

This credit is available but must be approved by the Florida Department of Commerce under the guidelines in Section 288.1254, F.S.

• The credit may be carried forward for five years.

References: Sections 220.1899 and 288.1254, F.S., Tax Information Publication #10A01-08 , and Governor’s Office of Film and Entertainment

Hazardous Waste Facility Tax Credit

This credit is available to the owner of any commercial hazardous waste recycling facility that incurs expenses for hydrologic, geologic, or soil site evaluations and permit fees required by the Florida Department of Environmental Protection. The credit is equal to the amount of expenses incurred.

This credit is available to the owner of any commercial hazardous waste recycling facility permitted by the Florida Department of Environmental Protection. The credit is equal to 5% of the cost of stationary facility equipment placed in service during the taxable year and used for the recycling of hazardous wastes.

• The credit may be carried forward for five years.

Reference: Section 220.184, F.S.

Live Local Program Tax Credit

Taxpayers may make contributions to the Florida Housing Finance Corporation and receive a dollar-for-dollar credit against corporate income tax or insurance premium tax. For more information, visit the Department’s Live Local Program Tax Credit webpage.

References: Sections 220.1878 and 420.50872, F.S.

New Markets Tax Credit

A credit equal to 39% of the purchase price of a qualified investment as defined in Section 288.9913(9), F.S. may be taken. The credit may be carried forward for five years.

Reference: Section 288.9916, F.S.

New Worlds Reading Initiative Tax Credit

Taxpayers may make contributions to an administrator and receive a dollar-for-dollar credit against specific Florida taxes, including the corporate income tax. For more information, visit the Department's New World Reading Initiative – Tax Credit webpage.

References: Sections 220.1876 and 1003.485, F.S.

Research and Development Tax Credit

Florida provides a corporate income tax credit to eligible businesses for certain qualified research expenses. Read the 2024 Allocation Report .

The application process for an allocation of credit related to expenses incurred in the 2024 calendar year will open on March 20, 2025. At that time, qualified target industry businesses subject to the Florida corporate income tax will be able to apply online for an allocation of the Florida research and development tax credit for expenses incurred in the prior calendar year. Only businesses with a letter from the Florida Department of Commerce certifying that the business is a qualified target industry business are eligible to apply.

To participate in this program, the corporation must claim and be allowed a research credit against federal income tax for qualified research expenses under Section 41, Internal Revenue Code, and also meet the definition of a target industry business as defined in Section 288.106, F.S. (2022). Only qualified target industry businesses in the manufacturing; life sciences; information technology; aviation and aerospace; homeland security and defense; cloud information technology; marine sciences; materials science; and nanotechnology industries may qualify for a tax credit. Only businesses with a valid letter at the time of application from the Florida Department of Commerce certifying that the business is a qualified target industry business are eligible to apply. The Florida research and development tax credit taken may not exceed 50% of the Florida corporate income tax liability after all other credits have been applied in the order provided in Section 220.02(8), F.S.

Find out more about this tax credit and the requirements in Tax Information Publication #17C01-01 .

References: Section 220.196, F.S., and Rule 12C-1.0196, F.A.C.

Scholarship-Funding Organizations – Tax Credits for Contributions

The Florida Tax Credit Scholarship Program allows taxpayers to make private, voluntary contributions to nonprofit scholarship-funding organizations and receive a dollar-for-dollar credit against specific Florida taxes, including the corporate income tax. For more information, visit the Department's Scholarship-Funding Organizations – Tax Credits for Contributions web page.

References: Sections 220.1875 and 1002.395, F.S., and Rule Chapter 12-29, F.A.C.

State Housing Tax Credit

This credit is available to private corporations that build low-income housing projects in urban areas.

• A credit of up to 9% is allowed of the eligible basis of any designated project for each year of the credit period for a taxable year.

Reference: Section 220.185, F.S.

Strong Families Tax Credit

Taxpayers may make contributions to eligible charitable organizations and receive a dollar-for-dollar credit against specific Florida taxes, including the corporate income tax. For more information, visit the Department's Strong Families Tax Credit webpage.

References: Sections 220.1877 and 402.62, F.S.

Florida Alternative Minimum Tax Credit (AMT)

A credit equal to the excess of the Florida AMT paid over the amount of regular corporate income tax is available.

• Florida AMT credit can be applied in each year following the year in which the taxpayer does not owe Florida AMT. The amount of the Florida AMT credit which can be taken in a given year is limited to the excess of Florida corporate income tax over Florida AMT computed in that year.
• There is no time limit on carryovers.

Reference: Section 220.186, Florida Statutes

Florida Health Maintenance Organization Consumer Assistance Assessment Credit

A credit equal to 20% of the assessments paid to the Florida Health Maintenance Organization Consumer Assistance Plan for each year following the year in which such assessment was paid is available.

• Five years after the assessment was paid, the entire amount of the assessment will be credited.
• There is no time limit on carryovers.

Reference: Section 631.828, Florida Statutes (F.S.)

Florida Life and Health Insurance Guaranty Association (FLAHIGA)

A credit to a member insurer of FLAHIGA based on any assessments described in Section 631.718, F.S., is available.

• The credit allowed is a percentage of the assessments paid.

Reference: Section 631.72, F.S.