RURAL JOB TAX CREDIT PROGRAM
(Instructions & Application)
Award made to Opportunity Florida counties
Tax credits provides for $1,000 per qualified employee that can only be taken against either the Florida Corporate Income Tax or the Florida Sales and Use Tax. Five million dollars of tax credits may be approved in a calendar year.
Why? To encourage meaningful employment opportunities that will improve the quality of life of those employed and to encourage economic expansion of new and existing businesses in rural areas of Florida.
How? Business must be predominately engaged in (or headquarters for) activities classified in the following Standard Industrial Classification Codes:
2-digit SIC Description
(01-09) Agriculture; Forestry; and Fishing
(20-39) Manufacturing
(70) Hotels and Other Lodging Places
(422) Public Warehousing and Storage
(7391) Research and Development
(7992) Public Golf Courses
(7996) Amusement Parks
Call Center Customer Service Center (serving a multi-state or international market)
A "New Business" is any eligible business that begins operation on a site in a designated county, which is separate from any other business operation within the designated county.
An "Existing Business" is any eligible business that does not qualify as a "New Business".
A business may apply at any time but must wait twelve months before applying again.
New full-time positions (averaging at least 36 hours per week) if the business has created the required minimum number of new jobs. (See table below.)
An employee must be employed for at least 3 months.
An owner or partner of the eligible business is not a qualified employee.
Leased employees are eligible as qualified employees.
New Business - Must create at least 10 new jobs.
Existing Business - An existing business with 50 or more employees must create at least 10 new jobs.
QUALIFIED TARGET INDUSTRY (QTI)
TAX REFUND
TARGET INDUSTRIES LIST BY SIC
Effective September 1, 1996
APPAREL AND OTHER TEXTILES (22, 23)
BUSINESS SERVICES (73)
CHEMICALS AND ALLIED PRODUCTS (28)
COMMUNICATIONS (48)
CORPORATE HEADQUARTERS (88)
ELECTRONIC AND OTHER ELECTRIC EQUIPMENT (36)
FABRICATED METAL PRODUCTS (34)
FOOD AND KINDRED PRODUCTS (20)
FURNITURE AND FIXTURES (25)
HOLDING AND OTHER INVESTMENT OFFICES (67)
INDUSTRIAL MACHINERY AND EQUIPMENT (35)
INSTRUMENTS AND RELATED PRODUCTS (38)
INSURANCE CARRIERS (63)
LUMBER AND WOOD PRODUCTS (24)
MISCELLANEOUS MANUFACTURING (38)
MOTION PICTURES - Only motion picture sound recording and reproducing studios (78)
NON-DEPOSITORY CREDIT INST. (61)
PAPER AND ALLIED PRODUCTS (26)
PRIMARY METAL INDUSTRIES (33)
PRINTING AND PUBLISHING (27)
RESEARCH AND DEVELOPMENT (87)
RUBBER AND MISC. PLASTICS (30)
SECURITY AND COMMODITY BROKERS (62)
STONE, CLAY AND GLASS (32)
TRANSPORTATION EQUIPMENT (37)
WHOLESALE DISTRIBUTION (50, 51)
Each county has a different program classification and different eligibility requirements.
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