Florida Tax Incentives | Business & Workforce Incentives Taylor County, Florida (FL) – North Florida's Rising Star
Businesses approved for QRT funding are limited to one grant award per site every two years. Approved training costs are disbursed to the training provider monthly, based on a cost reimbursement and performance method of payment. Statutory Reference: Section 288.047, Florida Statutes
Incumbent Worker Training
Workforce Florida, Inc. understands quality assurance and compliance can be critical to a company’s success and profitability. Florida’s Incumbent Worker Training program has extensive experience in providing training needs in lean manufacturing, ISO and other quality management training. Grant funding is available for reimbursement of training costs for existing employees. The award amount is based upon eligibility and need.
Manufactring Machinery And Equipment Sales Tax Exemptions
Projects locating in Taylor County may be eligible for a 100 percent exemption of their sales and use tax on manufacturing machinery and equipment. In order to qualify for the new business exemption, the machinery and equipment must have been purchased, or a purchase agreement made, prior to the date the business first begins to produce a product for inventory or immediate sale. If a purchase agreement was made prior to the beginning of production, such machinery and equipment must be received within twelve months of the date that production began.
Industrial machinery and equipment is exempt from tax when purchased by an expanding business for the purpose of increasing “productive output” by not less than ten percent. Sales or use tax of $50,000 for each calendar year of the expansion project must be paid before the exemption or refund is available. Statutory Reference: Section 212.08, Florida Statutes
Electricity Tax Ememption
The Electricity Tax Exemption is applied to 100 percent of the electricity purchased if 75 percent or more is used to operate machinery and equipment at a fixed location to manufacture, process, compound, produce or prepare for shipment of tangible personal property for dale, or to operate pollution control equipment, recycling equipment, maintenance equipment, or monitoring or control equipment used in such operations. The exemption is applied to 50 percent of the electricity or steam purchased if 50 to 75 percent is used manufacturing. No separate metering is required. Statutory Reference: Section 212.08, Florida Statutes
Pollution Control Equipment Exemption
The sales tax levied on pollution control equipment shall be exempted for any facility, device, fixture, equipment, machinery, specialty chemical, or bioaugmentation product used primarily for the control or abatement of pollution or contaminants in manufacturing, processing, compounding, or producing for sale items of tangible personal property at a fixed location, or any structure, machinery, or equipment installed in the reconstruction or replacement of such facility, device, fixture, equipment or machinery. Statutory Reference: Section 212.051, Florida Statutes
Repair And Labor Charges Tax Exemption
The Repair and Labor Charges Tax Exemption fully exempts sales tax on labor charges for the repair of, and parts and materials used in the repair of the incorporated into, industrial machinery and equipment which is used for the manufacture, processing, compounding, production, or preparation for shipping of items of tangible personal property at a fixed location within Florida. Statutory Reference: Section 212.08, Florida Statutes
Distressed Area Matching Grant
The purpose of the program is to stimulate investment in the state’s economy by providing grants to match demonstrated business assistance by local governments to attract and retain businesses in this state. A local government may apply for grants to match qualified business assistance made by the local government for the purpose of attracting or retaining a specific business. To qualify for a grant, the business being targeted by a local government must create at least 15 full-time jobs, must be new to this state, must be expanding its operations in this state, or would otherwise leave the state absent state and local assistance, and the local government applying for the grant must expedite its permitting processes for the target business by accelerating the normal review and approval timelines. An awarded grant amount shall equal 50 percent of the amount of the qualified business assistance or $50,000, whichever is less, and may not exceed the preliminary grant allocation.
Rural Business Enterprise Grants (RBEG) Program
The RBEG program is a broad based program that reaches to the core of rural development in a number of ways. Examples of eligible fund use include: Acquisition or development of land, easements, or rights of way; construction, conversion, renovation, of buildings, plants, machinery, equipment, access streets and roads, parking areas, utilities; pollution control and abatement; capitalization of revolving loan funds including funds that will make loans for start ups and working capital; training and technical assistance; distance adult learning for job training and advancement; rural transportation improvement; and project planning. Any project funded under the RBEG program should benefit small and emerging private businesses in rural areas. Small and emerging private businesses are those that will employ 50 or fewer new employees and have less than $1 million in projected gross revenues.