Florida R&D Tax Credit Summary
R&D Tax Credit Available
Research and Development Tax Credit for Florida Corporate Income Tax
DOES IT APPLY TO C-CORPS & PASS THROUGHS?
Only applies to “business enterprises,” which includes C and S corporations but excludes partnerships and LLC’s taxed as partnerships.
Nonrefundable credit with similar definition to federal for Qualified Research Expenses and Qualified Research Activities, except only include Florida-based expenses and must be in a “targeted industry”.
10% on incremental expenses over base amount.