State Credit Name: Research and Development Tax Credit

Expiration Date: Indefinite

Who Can Apply? Only corporations that are engaged in one of the target industries identified by the Department of Economic Opportunity in Florida and have claimed and received a federal research tax credit.

Credit Carry Forward: Credits that exceed 50% of the income tax liability, the excess can be carried forward for up to 5 years. No carry back.

About the Credit:
Beginning in tax year 2012, 10% of current year Florida QRE’s that exceed the average of the prior 4 years. The credit is applied against the Florida corporate income tax liability, but it cannot exceed 50% of the tax due after all other credits and liabilities have been applied.

Notes: Florida’s budget allocates $9 million per year for R&D credits. For business filing in 2016 for R&D expenses incurred in tax year 2015, the credit cap will be $23 million. After 2016, the credit cap will return to $9 million. If total credits for all applicants exceed the maximum allowed, credits are awarded on a prorated basis. The application must be filed on or after March 20th and before March 27th of the filing year.

Click here to find out if you qualify for the federal research tax credit.

Florida State Incentives

1 2 3 4
page 1 of 4

Why Swanson Reed

We provide full, hands-on support from start to finish.

Are You Eligible?

Take our eligibility wizard to find out if you qualify for a tax credit.

Calculate Your Benefit

Use our quick calculator to determine your R&D tax credit benefit.

Know Your Deadline

 Never miss a deadline again with our R&D Tax Credit filing deadline calculator.

For Accountants

 Take advantage of our extensive database of videos, case law and recent news.

Industry Case Studies

 Find out the qualifying R&D activities specific to your industry.

Contact Us

Contact your local Swanson Reed office to speak with a representative in your area today. 

13727 SW 152 Street
Suite 612
Miami, FL 33177


T: (786) 404-1316

F: (512) 256-8157