1. Florida Department of Revenue (DOR)
  2. Research and Development Tax Credit Program
  3. Florida Statutes (F.S.) $\S 220.196$
  4. Florida Corporate Income Tax
  5. Qualified Research Expenses (QREs) 
  6. Base Amount
  7. Average of Qualified Research Expenses (4 Preceding Tax Years)
  8. Excess Qualified Research Expenses over Base Amount
  9. 10% Credit Rate
  10. Corporate Income Tax Liability (CI Tax)
  11. 50% CI Tax Liability Limit
  12. Remaining Net Income Tax Liability (after other credits)
  13. Carryforward Period (5 Years)
  14. Annual Credit Cap ($\$9$ Million Total)
  15. Prorated Allocation
  16. Application for Allocation of Credit
  17. Application Window (March 20 – March 26)
  18. Business Enterprise
  19. Corporation (Defined in $\S 220.03$, F.S.)
  20. Qualified Target Industry Business (QTIB)
  21. QTIB Definition ($\S 288.106(2)(n)$, F.S.)
  22. Florida Department of Commerce (Certification Letter)
  23. Manufacturing Industry (Eligible QTIB)
  24. Life Sciences Industry (Eligible QTIB)
  25. Information Technology Industry (Eligible QTIB)
  26. Aviation and Aerospace Industry (Eligible QTIB)
  27. Homeland Security and Defense Industry (Eligible QTIB)
  28. Cloud Information Technology Industry (Eligible QTIB)
  29. Marine Sciences Industry (Eligible QTIB)
  30. Materials Science Industry (Eligible QTIB)
  31. Nanotechnology Industry (Eligible QTIB)
  32. Internal Revenue Code (IRC) $\S 41$
  33. Claim and be Allowed a Federal Research Credit
  34. Federal Form 6765 (Required Attachment)
  35. In-House Research Expenses Incurred
  36. Contract Research Expenses Incurred 
  37. Research Conducted Outside Florida (Exclusion)
  38. Predecessor Corporation (Base Amount Adjustment)
  39. Reduced Credit (for Less than 4 Years in Existence)
  40. 25% Reduction (for Each Missing Taxable Year)
  41. Disregarded Single Member Limited Liability Company (Exclusion)
  42. Partnership/LLC Taxed as Partnership (Exclusion)
  43. Corporate Partner (Separate Application)
  44. Allocated Partnership Research Expenses
  45. Recalculation of Credit Amount (Federal Audit)
  46. Amended Florida Returns (Federal Audit Adjustment)
  47. Addition to Taxable Income (Credit Amount)
  48. Rule 12C-1.0196, F.A.C. (Administrative Code)
  49. Sales Tax Exemption ($\S 212.052$, F.S.)