Tax Benefits Summary: The forms for the following incentives are under
1. Jobs Tax Credit - Sales Tax. Allows a business located within an Urban Enterprise Zone (EZ) to take a sales and use tax credit for 20 or 30 percent of wages paid to new employees who reside within an EZ. To be eligible, a business must create at least one new job. The Sales Tax Credit cannot be used in conjunction with the Corporate Tax Jobs Credit.
2. Jobs Tax Credit - Corporate Income Tax. Allows a business located within an Urban EZ to take a corporate income tax credit for 15 or 20 percent of wages paid to new employees who reside within an EZ. The Corporate Tax Credit cannot be used in conjunction with the Sales Tax Credit.
3. Business Equipment - Sales Tax Refund. A refund is available for sales taxes paid on the purchase of certain business property, which is used exclusively in an EZ for at least three years.
4. Building Materials - Sales Tax Refund. A refund is available for sales taxes paid on the purchase of building materials used to rehabilitate real property within an EZ.
5. Property Tax Credit - Corporate Income Tax. New or expanded businesses located within an EZ are allowed a credit against Florida corporate income tax equal to 96% of ad valorem taxes paid on the new or improved property.
6. Electrical Energy - Sales Tax Exemption. A 50% sales tax exemption is available to qualified businesses located within an EZ on the purchase of electrical energy, if the municipality has reduced the municipal utility tax by at least 50%.
7. Community Contribution - Tax Credit Program. Allows businesses a 50% credit on Florida corporate income tax, insurance premium tax, or sales tax refund for donations made to local community development projects. Businesses are not required to be located in an EZ to be eligible for this credit.
8. Child Care Facility - Ad Valorem Property Tax Exemption. Child care facility includes any child care center or child care arrangement which provides child care for more than five children unrelated to the operator and which receives a payment, fee, or grant for any of the children receiving care, wherever operated, and whether or not operated for profit. A child care facility must file an application each year with the governing body having jurisdiction over the EZ. Any real estate used and owned as a child care facility as defined in s. 402.302 FS, which operates in an EZ pursuant to chapter 290 is exempt from taxation.