Effective: 01/01/2002
JOBS TAX CREDIT (CORPORATE INCOME TAX)
FORM F-1156Z (Certificate of Eligibility for Corporate Income Tax)
FORM F-1156ZN (General Instructions)
(s. 220.181, F.S.)
Business Eligibility:
Corporation must be located within an Enterprise Zone.
Business must not be taking Jobs Tax Credits against sales tax.
Employee Eligibility:
Must reside and work in an Enterprise Zone.
A new job must be created before the business earns a 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 employees).
Must be employed for at least three consecutive months.
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.
Number of permanent, full-time employees (Zone residents) Divided by Total number of permanent, full-time employees
If this percentage is less than 20% the tax credit will be 20% of monthly wages paid to new employee.
If this percentage is 20% or more the tax credit will be 30% of monthly wages paid to new employee.
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 who 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 F-1156Z to:
Florida Department of Revenue
Return Reconciliation
5050 West Tennessee Street
Tallahassee, FL 32399-0100