Florida DOR Issues Information on Corporate Income Tax Research and Development Credit

The Florida Department of Revenue March 1 issued information on the Corporate Income Tax Research and Development Credit. Beginning March 20 and ending March 26, qualified target industry businesses subject to the state corporate income tax may apply online for an allocation of the credit for expenses incurred in the 2020 calendar year. To apply for the credit, a business must first obtain a letter from the Department of Economic Opportunity certifying it’s a qualified target industry business. [Fla. Dep’t of Revenue, Corporate Income Tax Research & Development Credit, 03/01/21]

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