ENTERPRISE ZONE JOBS TAX CREDIT (Sales Tax) (Form 115ZC)
Section 212.096, Florida Statues
What is the program? Allows business 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 3 months and are residents of a Florida enterprise zone (or are WAGES Program participants).
What are the advantages? This incentive provides a credit of 10% of wages paid to new employees who are residents of a Florida enterprise zone. If 20% or more of the permanent, full-time employees are residents of a Florida enterprise zone, the credit is 15%. New employees (qualified on or after 7/1/96) who reside in a zone and earn $1,500 or more per month are eligible for a credit equal to 5% of the first $1,500 of monthly wages. WAGES program participants are eligible for a credit equal to 15% of the first $1,500 of monthly wages.
What are the limitations? The credit is limited to the amount of tax due on each return. There is no refund or carry-forward credit in excess of the tax due. This credit is not available if the Enterprise Zone Jobs Tax Credit, (corporate tax), is taken.
How do I receive the credit? Form DR-15JZ must be submitted to an Enterprise Zone Coordinator within 4 months after the new employee is hired.
