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ENTERPRISE ZONE Credits

Hendry County has an ENTERPRISE ZONE to offer new and existing business major incentives.

Jobs Tax Credit (Sales Tax)

Eligibility

  • Must be located in an Enterprise Zone
  • Must collect and pay sales and use tax
  • Must not be taking EZ Jobs Tax Credit against corporate Income tax

Employee Eligibility

  • A new job must be created before a business earns tax Credit
  • Must reside and work in an Enterprise Zone
  • A new job must be created before a business earns tax Credit
  • Welfare transition Program Participants may live anywhere, but must work within a zone
  • Must work an average of at least 36 hours a week (no part-time)
  • Must be employed for at least three consecutive months
  • New employee cannot be an owner, partner, or stockholder
  • Employees leased from an employee leasing company (Chapter 468) must be continuously leased from an employee leasing company for more than 6 months
  • Previous employees must not have been employed by the hiring business in the preceding 12 months
  • Tax credit shall be allowed for up to 24 months per new employee
  • Tax credit amount cannot be more than amount of sales tax owed

Processing time

  • Form must be filed with the DOR within six months of hire date
  • EZDA has 10 business days to process and certify the form
  • Form DR-15CS (Sales and Use Tax Return) must be submitted by business by the 20th of the next month (or will be considered late)
  • The Dept. of Revenue will notify the business that the tax credit application has been approved (within 10 working days)

Copies

  • Form DR-15ZC (when approved by EZDA Coordinator) is given to business that will submit original with Form DR-15CS (Sales and Use Tax Return) to the Dept. of Revenue (see address below).
  • One copy for EZDA files

Mailing instructions

  • EZDA mails a copy of form DR-15ZC to:

          Florida Department of Revenue
          Return Reconciliation
          5050 West Tennessee Street
          Tallahassee, FL 32399-0100

Questions?

  • Tax information Services: 850-488-6800
  • Hendry County Economic Development: 863-675-6007

Jobs Tax Credit - (Corporate Income Tax)

Eligibility

  • Must be located in an Enterprise Zone
  • Must not be taking Jobs Tax Credit against sales tax

Employee Eligibility

  • Must reside and work in an enterprise zone
  • A new job must be created before a business earns tax credit
  • Welfare transition Program Participants may live anywhere, but must work within a zone
  • Must work an average of at least 36 hours a week (no part-time)
  • Must be employed for at least three consecutive months
  • New employee cannot be an owner, partner, or stockholder
  • Employees leased from an employee leasing company (Chapter 468) must be continuously leased to an employer for more than 6 months
  • Previous employees must not have been employed by the hiring business in the preceding 12 months
  • Tax credit shall be allowed for up to 24 months per new employee. Unused tax credit may be carried forward up to 5 years

Processing Time

  • EZDA has 10 business days to process and certify Form F-1156Z

Copies

  • F-1156Z (when approved by EZDA Coordinator) is given to business that will attach original to Form F-1120 when submitting their corporate return
  • EZDA mails one copy to Department of Revenue (see address below)
  • One copy for EZDA files

Mailing instructions

  • EZDA mails a copy of form DR-15ZC to:

          Florida Department of Revenue
          Return Reconciliation
          5050 West Tennessee Street
          Tallahassee, FL 32399-0100

Questions?

  • Tax information Services: 850-488-6800
  • Hendry County Economic Development: 863-675-6007

Property Tax Credit - (Corporate Income Tax)

Business Eligibility

  • Must be located within an Enterprise Zone
  • Firms must earn more than $5,000 to take advantage of the credit
  • New businesses must establish 5 or more new jobs
  • Expanding businesses must establish 5 or more new jobs
  • Rebuilding businesses must have suffered damage in an “emergency”

Tax Credit Calculation

  • New businesses - tax credit will be based on the amount of ad valorem taxes paid
  • Expanding Businesses - Tax credit will be based on the additional ad valorem taxes paid from assessments on additional real or tangible personal property acquired for the expansion project
  • Rebuilding Businesses - Tax credit will be based on the ad valorem taxes paid from the assessments on property replaced or restored
  • If 20% or more of the full-time employees are enterprise zone residents then the maximum of #$50,000 annual credit can be claimed for 5 years; otherwise the credit is limited to $25,000 annually for five years
  • Any unused portion of the credit can be carried forward for 5 years

Filing Date

  • Form DR-456 must be filed with the property appraiser no later than April 1 of the year in which the real property is first subject to assessment

Copies

  • Forms DR-456 and F-1158Z (when approved by EZDA Coordinator) are given to the business that will attach original to Form F-1120 when submitting their corporate income tax return
  • EZDA mails a copy to the Department of Revenue (see address below)
  • One copy for EZDA files

Mailing instruction

  • EZDA mails a copy of form DR-15ZC to:

          Florida Department of Revenue
          Return Reconciliation
          5050 West Tennessee Street
          Tallahassee, FL 32399-0100

Questions?

  • Tax information Services: 850-488-6800
  • Hendry County Economic Development: 863-675-6007

Business Equipment Sales Tax Refund

Business Eligibility

  • Must be located in an Enterprise Zone
  • Must have a sales price of at least $5,000 per unit
  • Equipment purchased must be used exclusively in an Enterprise Zone for at least three years
  • Eligible purchase must be new or used property defined as “recovery property” in s. 168© of Internal Revenue Code of 1954 as amended, not including the following three examples:
    • 3-year property under s. 168©(2)(A) of Internal Revenue Code
    • industrial machinery/equipment (receiving a capital equipment sales tax exemption under s. 212.08(5)(b), F.S.) and
    • building materials eligible for EZ sales tax refund incentive

Refund Calculation

  • 97% of the state sales tax (6%) paid on Business Equipment

Minimum Refund

  • $291.00 (Purchase amount: $5,000)

Maximum Refund

  • If 20% or more of the permanent, full-time employees of the business are residents of an EZ, the maximum refund per application will be no more than the lesser of $10,000 or 97% of the state sales tax
  • If less than 20% of the permanent, full-time employees of the business are residents of an EZ, the maximum refund per application will be no more than the lesser of $5,000 or 97% of the state sales tax paid

Processing Time

  • Forms must be filed with the Department of Revenue within six months after Processing Time
  • Forms must be filed with the Department of Revenue within six months after the equipment is purchased or the tax is due
  • EZDA has 10 business days to process

Copies

  • Form EZ-E (when approved by EZDA Coordinator) is given to business who will submit original with Form DR-26S (and supporting documentation) to the Department of Revenue
  • EZDA faxes a copy of Form EZ-E to the Dept. of Revenue
  • One copy for EZDA files

Faxing Instructions

  • EZDA faxes a copy of Form EZ-E to:

          850-922-5858 (phone 850-488-8937)

Questions

  • Tax Information Services: 850-488-6800
  • Hendry County Economic Development Council: 863-675-6007

Building Materials Sales Tax Refund

Business Eligibility

  • Business being renovated must be located in an enterprise Zone
  • Businesses and Residents are eligible for sales tax refund
  • Sales tax refund is available only one time per parcel of real estate
  • Incentive limited to owners, lassoers, lessees of the real property that is rehabilitated with an enterprise zone

Refund Calculation

  • 97% of the state sales tax (6%) paid on building materials

Minimum Refund

  • $500.00 (Purchase amount $8,600)

Maximum Refund

  • If 20% or more of the permanent, full-time employees of the business are residents of an EZ, the maximum refund will be no more than the lesser of $10,000 or 97% of the state sales tax paid
  • If less than 20% of the permanent, full-time employees of the business are residents of an EZ, the maximum refund will be no more than the lesser of $5,000 or 97% of the state sales tax paid

Processing Time

  • Forms must be filed with the Department of Revenue within six months after the improvements are certified by the building inspector as being substantially complete or within 90 days after the rehabilitated property is first subject to assessment
  • EZDA has 10 business days to process

Copies

  • Form EZ-M (when approved by EZDA Coordinator) is given to business who will submit original with Form DR-26S (and supporting documentation) to the Department of Revenue
  • EZDA faxes a copy of Form EZ-M to the Dept. of Revenue (see below)
  • One copy for EZDA files

Faxing Instructions

  • EZDA faxes a copy of Form EZ-M to:

          850-922-5858 (phone 850-488-8937)

Questions

  • Tax Information Services: 850-488-6800
  • Hendry County Economic Development Council: 863-675-6000