Capital Investment Tax Credit Program

DEPARTMENT OF REVENUE
Corporate, Estate and Intangible Tax

RULE NO.: RULE TITLE:
12C-1.0191: Capital Investment Tax Credit Program

NOTICE OF CHANGE

Notice is hereby given that the following changes have been made to the proposed rule in accordance with subparagraph 120.54(3)(d)1., F.S., published in Vol. 38 No. 39, September 28, 2012 issue of the Florida Administrative Register.

Subparagraph 2. of paragraph (b) of subsection (1) of Rule 12C-1.0191, F.A.C., has been changed so that, when adopted, that subparagraph will read:

2. A carryover of credit is available for a qualifying business that invested at least $100 million and is eligible to claim the credit against 100 percent of its corporate income tax liability pursuant to Section 220.191(2)(a)1., F.S. Unused credits from the 20-year credit period may be claimed in the 21st through 30th tax years after commencement of operations of such qualifying project, as long as the unused amount results from an insufficient tax liability on the part of the qualifying business.