A five year carry-forward provision is available for any unused portion of the tax credits. The project sponsor submits a proposal to the Department of Commerce for approval. The sponsor then solicits donations from businesses. Participating businesses file a simple form, along with proof of donation, to the department. Once the donation has been approved, a copy of the approval letter must be submitted with the state tax return.
Additional donations require approval.
Project proposals must be reapproved on an annual basis. Allows businesses located in a Florida Enterprise Zone who collect or pay Florida sales and use tax a monthly credit against their tax due, on wages paid to new employees who have been employed by the business for at least three months and arrestants of a Florida Enterprise Zone. The credit is limited to the amount of tax due on each return. There is no refund or carry-forward for credit in excess of the tax due. Form DR-15JZ must be submitted to the Department of Revenue within four months after the new employee is hired.