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 Credit | Community Contribution Tax Credit |
| Rural Job Tax Credit | Florida HMO Consumer Assistance Credit |
| Capital Investment Tax Credit | New Markets Tax Credit |
| Credit for contributions to Nonprofit Scholarship Funding Organizations |
INSURANCE PREMIUM TAXES AND FEES
| Salary Tax Credit | Corporate Income Tax Credit |
| Workers’ Compensation Administrative Assessment Credit | Florida Life and Health Guaranty Association Credit |
| Firefighters’ Pension Trust Fund Credit | New Markets Tax Credit |
| Municipal Police Officers’ Retirement Trust Fund Credit |
SALES AND USE TAX
| Exemption for Industrial Machinery/Equipment for Eligible Manufacturing Businesses | Various “Energy” related exemptions
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| Pollution Control Machinery and Equipment exemption | Entertainment Industry Incentives |
| Machinery and Equipment Used for Research and Development | Job, 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.