State Program
Florida Research and Development Tax Credit
A capped, competitive credit available to qualifying corporations in targeted high-technology industries.
Program Overview
Florida limits its research credit to C corporations operating in specific target industries, such as aviation and aerospace, cloud information technology, life sciences, advanced manufacturing, materials science, and marine sciences. The program operates under a statewide annual allocation, and applications are accepted during a defined period each year. When eligible applications exceed the available allocation, credits may be prorated among approved applicants. Businesses should review the annual application requirements and filing period when considering the credit.
Eligibility
- Florida C corporations operating in a qualified target industry may qualify.
- The corporation must claim the federal research credit for qualifying research conducted in Florida.
- Applications must be filed with the Florida Department of Revenue during the applicable annual application period.
- Additional eligibility and certification requirements may apply to the specific target industry.
Benefits
- Provides a non-refundable credit against Florida corporate income tax liability.
- The credit may be prorated when eligible applications exceed the annual program allocation.
- Provides a state-level research incentive for qualifying corporations in designated high-technology industries.
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