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Florida
R&D Tax Credits

Connect with us to find out how R&D tax credits can boost your organization’s bottom line.

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This post was last updated on Apr 02, 2024.

Florida R&D Tax Credit

Discover the benefits of Florida state credits and see how your business could qualify.

10
%
of qualified expenses that exceed a base period amount
50
%
of tax liability after all other tax credits are applied
25
%
for each taxable year for which a predecessor business didn’t exist
5 years
carry forward for credit usage

Florida R&D Tax Credit Eligibility Summary:

Is the R&D Tax Credit Available?:
Yes
No
Eligible Entities:
C-Corporations only
Deadline for Tax Filing:
Online Application open between March 20 - March 26
Data Required to Compute Credit:
Claim Period Qualified R&D Expenses (QREs)
What Information is needed?:
Florida QREs for Prior 4 Years

Florida R&D Tax Credit Guidelines:

  • Florida Research Credit is only available to Corporations that meet the definition of qualified target industry business, as defined in s. 288.106(2)(n).
  • The Florida credit is limited to 50% of a taxpayer's tax liability.The credit amount is capped at $9 million.
  • If the state credit cap is reached, the credits are allocated on a prorated basis. For example, for 2019 (the 2020 application window), 127 applications were approved with the applicant receiving an allocation of the available $9 million in credit. Each applicant received approximately 8.8% of the amount of credit determined in their application. These 127 applications requested $101,741,648 in credit.

Florida R&D Tax Credit Case Study

A Florida-based company recovered thousands in R&D tax credits to refuel growth.

$

Total state R&D tax credits earned

%

Amount of wages qualified for tax credits

$

Total R&D tax credit earned

Key Florida R&D Tax Credits R&D Tax Rules Changes

2019' - 22
22' and after
2019' - 22
22' and after

Resources

There are many other considerations and exemptions, including what documentation the IRS requires for the R&D tax credits. Stay updated to navigate the new tax laws with confidence.

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Connect with us to find out how R&D Tax Credits can boost your organization’s performance.

Ready to Maximize Your State Credits?

With just a little info, our Strike Experts can help you start your R&D tax credit journey.

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What’s a Rich Text element?

What’s a Rich Text element?

The rich text element allows you to create and format headings, paragraphs, blockquotes, images, and video all in one place instead of having to add and format them individually. Just double-click and easily create content.

The rich text element allows you to create and format headings, paragraphs, blockquotes, images, and video all in one place instead of having to add and format them individually. Just double-click and easily create content.

Static and dynamic content editing

Static and dynamic content editing

A rich text element can be used with static or dynamic content. For static content, just drop it into any page and begin editing. For dynamic content, add a rich text field to any collection and then connect a rich text element to that field in the settings panel. Voila!

A rich text element can be used with static or dynamic content. For static content, just drop it into any page and begin editing. For dynamic content, add a rich text field to any collection and then connect a rich text element to that field in the settings panel. Voila!

How to customize formatting for each rich text

How to customize formatting for each rich text

Headings, paragraphs, blockquotes, figures, images, and figure captions can all be styled after a class is added to the rich text element using the "When inside of" nested selector system.

Headings, paragraphs, blockquotes, figures, images, and figure captions can all be styled after a class is added to the rich text element using the "When inside of" nested selector system.

Ready to calculate your R&D tax credits?

To get an estimate of the potential value of your unclaimed R&D Tax Credits, try out our credit calculator.

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Download the app.

Download our R&D Tax Credit Calculator for Android to see how much you can receive from your qualified R&D tax credit expenses.

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