Economic Incentives & Tax Credits
High impact incentives for small businesses in Florida
Attractive capital investment credits encourage capital-invested industries to set up in Florida, while training incentives provide the possibility to expand the knowledge and skills of future and current employees. Florida encourages growth throughout the state by offering increased incentive awards and lower wage qualification thresholds in its rural counties. The state also offers increased incentive awards and lower wage qualification thresholds for businesses locating in many urban core/inner city areas that are experiencing conditions affecting the economic viability of the community and hampering the self-sufficiency of the residents through urban incentives. Florida’s tax advantages are front and center when creating incentives to move business to Florida. With the third largest workforce in the U.S., Florida provides the workers needed to allow your business to succeed.
Top tax incentive programs for small and medium-sized businesses in Florida
Capital Investment Tax Credit
This credit is available to businesses in a designated high-impact sector (e.g., silicon technology, transportation industries, or solar panel manufacturing facilities).
Contaminated Site Rehabilitation Tax Credit
This credit is available to taxpayers that voluntarily rehabilitate brownfield sites or sites contaminated with dry-cleaning solvent.
Experiential Learning Tax Credit Program
The Experiential Learning Tax Credit Program provides an incentive to qualified businesses for employing apprentices, pre-apprentices, and student interns.
Rural Job Tax Credit
Eligible employers may apply for this tax credit which can be applied to taxes due on (state) gross receipts, corporate income, or personal income tax for the creation of jobs in rural New Mexico.
Urban High-Crime Area Job Tax Credit
The Urban Job Credit Program provides an incentive for eligible businesses, located within designated urban areas, to create new jobs.
Florida Research and Development Tax Credit
Florida provides a corporate income tax credit to eligible businesses for certain qualified research expenses.
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Subcity empowers small businesses, CPAs, and finance professionals to identify and apply for economic incentives and tax credits. Each year, over $100 billion is allocated for incentives across local, state, and federal programs in the U.S. Unfortunately, a significant portion of this money goes unclaimed or to large corporations with teams of tax attorneys and legal experts.
Subcity utilizes a comprehensive database of incentives to connect small businesses with the programs that were designed to help them create jobs, invest in their communities, and grow their business. Subcity charges a 10-20% fee for the programs they successfully secure, ensuring zero risk for clients as payment is contingent on results. Subcity is on a mission to democratize access to capital for America’s small businesses and has already delivered tens of millions of dollars in tax incentives for clients across the country.