Florida DOR Issues Technical Assistance Advisement on Tax Exemption for R&D Expenditures

The Florida Department of Revenue (DOR) issued a Technical Assistance Advisement (TAA) in response to a query regarding the eligibility of a taxpayer’s Research and Development (R&D) expenditures for exemption. The DOR confirmed that the taxpayer’s R&D expenditures related to Engineered Attractions, which are in strict compliance with the provisions of s. 212.052 of the Florida Statutes, and Rule 12A-1.043(6) of the Florida Administrative Code, do qualify for the said exemption. This decision provides clarity on the application of tax exemptions for R&D expenditures in the state of Florida. [Fla. Dep’t of Revenue, Technical Assistance Advisement 24A-009, 07/03/24]

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