Capital Investment Tax Credit for Clean Energy (Florida)
Last modified on February 12, 2015.
Financial Incentive Program
|Name||Capital Investment Tax Credit for Clean Energy|
|Incentive Type||Industry Recruitment/Support|
|Eligible Technologies||Clean Energy|
|Energy Category||Renewable Energy Incentive Programs|
|Amount|| 5% of eligible capital costs|
5% of eligible capital costs
|Start Date|| 2008-07-01
|Maximum Incentive|| 20 year maximum
|Program Administrator|| Executive Office of the Governor
In 2008, Florida established the Capital Investment Tax Credit for high-impact sectors with the purpose of attracting and growing capital-intensive industries to Florida. The annual tax credit is 5% of eligible capital costs generated by qualifying projects for a maximum of 20 years. A qualifying project is a new or expanding facility located in Florida that is in a high-impact sector, as defined by Enterprise Florida, Inc. Currently, high-impact sectors include clean energy, biomedical technology, financial services, information technology, silicon technology and transportation equipment manufacturing. Projects must include an investment of at least $25 million in eligible capital costs, among other criteria.
The annual tax credit is limited by the annual corporate income tax liability of the project. The following tax credit limits apply:
- Capital investment of at least $100 million: 100% of the annual corporate tax liability
- Capital investment between $50 million and $100 million: 75% of the annual corporate tax liability
- Capital investment between $25 million and $50 million: 50% of the annual corporate tax liability
Solar manufacturing facilities may transfer tax credits earned through this program. In order to qualify for this transfer, solar manufacturing companies must create at least 400 jobs within six months of beginning operations. The average annual salary of employees must be $50,000 or higher.
Authorities (Please contact the if there are any file problems.)
|Authority 1:|| Florida Statute 288.106
|Authority 2:||Florida Statute 220.191|
|Date Enacted|| 2008-06-25
|Contact Name||Taxpayer Services|
|Department||Florida Department of Revenue|
|Address||1379 Blountstown Highway|
|Phone 2|| (850) 488-6800
- Incentive and policy data are reviewed and approved by the N.C. Solar Center's DSIRE project staff.