Practice Areas

Business Incentives and Tax Credits

Business Incentive

With its current Executive and Legislative leadership, Florida is one of the most business friendly states in the Union, both from a tax rate perspective and from a business incentive, tax credit and tax exemption perspective. There are also tax exemptions that some businesses overlook. Our team of professionals stands ready to assist your business in taking advantage of these incentives, credits and exemptions.

Currently available incentives and credits include:

CORPORATE INCOME TAX

Enterprise Zone Jobs Credit/Property Tax CreditCommunity Contribution Tax Credit
Rural Job Tax CreditFlorida HMO Consumer Assistance Credit
Capital Investment Tax CreditNew Markets Tax Credit
Credit for contributions to Nonprofit Scholarship Funding Organizations

INSURANCE PREMIUM TAXES AND FEES

Salary Tax CreditCorporate Income Tax Credit
Workers’ Compensation Administrative Assessment CreditFlorida Life and Health Guaranty Association Credit
Firefighters’ Pension Trust Fund CreditNew Markets Tax Credit
Municipal Police Officers’ Retirement Trust Fund Credit

SALES AND USE TAX

Exemption for Industrial Machinery/Equipment for Eligible Manufacturing BusinessesVarious “Energy” related exemptions

 

Pollution Control Machinery and Equipment exemptionEntertainment Industry Incentives
Machinery and Equipment Used for Research and DevelopmentJob, Building Materials and Business Property used in Enterprise Zones

The Radey team has assisted startup businesses, insurers and other organizations in obtaining millions of dollars in tax credits through the above programs and other incentives. Many of these incentives, credits and exemptions have a detailed application process. Others have complicated rules relating to eligibility. In these cases, Radey can help you navigate the system from start to finish. We deal regularly with the state agencies that consider and approve the applications and later administer these programs and we can help you facilitate a successful outcome.

We would welcome an opportunity to discuss what may be available for your business to take advantage of, whether you are new to Florida or already do business here.