| An Enterprise Zone, designated by the state of Florida, is a specific geographic area targeted for economic revitalization. Enterprise Zones encourage economic growth and investment to businesses and property owners by offering tax advantages and incentives to encourage private investment and employment opportunities for the residents of the zone.
The State of Florida’s Office of Tourism Trade and Economic Development (OTTED) awarded Lakeland the Enterprise Zone designation as authorized in Section 290.00710, Florida Statutes. Lakeland’s Enterprise Zone encompasses a 7.38 square mile area and has a population of 21,227 residents. The effective date of the Enterprise Zone is January 1, 2006, and the designation will expire on December 31, 2015. |
|
|
|
|
| Florida Enterprise Zone Incentives |
Enterprise Zone Jobs Tax Credit (Corporate Income Tax) allows businesses located in the EZ to apply for a credit for the wages paid to new employees. For businesses that pay corporate income tax, the Jobs Tax Credit for Corporate Income Tax provides a 20% credit for the wages paid for each employee newly hired that resides in the EZ. |
|
|
|
|
|
|
| Download Form F-1120 (PDF file) |
Enterprise Zone Jobs Tax Credit (Sales and Use Tax) allows businesses located in the EZ who collect and pay Florida Sales and Use Tax to apply for a monthly credit against the tax due on the wages of new full time employees that reside in the EZ. |
|
|
|
|
|
|
| Download Form DR-15CS (PDF file) |
Enterprise Zone Property Tax Credit (Corporate Income Tax) - New or expanded businesses located within an enterprise zone are allowed a credit against Florida corporate income tax equal to 96% of ad valorem taxes paid on the new or improved property. This credit can be claimed for 5 years, the maximum amount is $25,000 annually. |
|
|
|
|
|
|
|
|
| Download Form F-1158Z (PDF file) |
Sales Tax Refund for Building Materials in the Enterprise Zone - A refund is available for sales taxes paid on the purchase of building materials used to rehabilitate real property located in an Enterprise Zone. The total amount of the sales tax refund must be at least $500, but no more than $5,000. |
|
|
|
|
|
|
| Download Form EZ-M (PDF file) |
Sales Tax Refund for Business Machinery and Equipment in the Enterprise Zone- A refund is available for sales taxes paid on the purchase of certain business property, which is used exclusively in an Enterprise Zone, must have a value of at least $5,000. |
|
|
|
|
|
|
| Download Form EZ-E (PDF file) |
Community Contributions Tax Credit Program - allows businesses anywhere in Florida a 50% credit on Florida corporate income tax, insurance premiums or sale tax refund for donations to local community development projects. The annual amount of the credit granted is $200,000 per firm and 100,000,000 for the state. For each dollar donated, businesses receive a 55.5 cent reduction in Florida tax liability. |
|
|
|
|
|
|
|
|
|
|
