Florida DOR Announces Increase in Strong Families Tax Credit Cap

The Florida Department of Revenue (DOR) June 18 announced an increase in the strong families tax credit cap from July 1 for corporate income, sales and use, and excise tax purposes. The DOR stated that the tax credit will increase by $20 million, bringing the total available credit to $40 million for the 2024-2025 fiscal year. [Fla. Dep’t of Revenue, Tax Info. Publ’n 24ADM-02, 06/18/24]
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