SILICON TECHNOLOGY SALES AND USE TAX EXEMPTION
Award made to businesses that produce silicon products, such as silicon wafers or semiconductor chips, or are engaged in silicon research and development.
What?
Tax exemption. An optional bonus feature of this exemption allows a certified business to designate one or more state universities or community colleges as recipients of up to 100 percent of the amount of the exemption for which they may qualify. If the university or college agrees to receive the funds, it must further agree to match them equally and use the proceeds to provide services (research or education) directly to the certified business.
Why?
To encourage silicon technology industries to establish operations in Florida.
How?
- Must apply annually to Enterprise Florida for certification as a silicon technology facility.
- Must document in the application the anticipated purchases of eligible machinery and equipment and the sales and use taxes otherwise payable on those purchases.
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