Enterprise Zone

 

Credit against Sales Tax for Job Creation:

 

Allows businesses located in the EZ who collect or pay Florida sales and use tax a monthly credit against their sales tax due, on wages paid to new employees who have been employed by the for at least three months and are residents of the Florida EZ.  Wages and JTPA participants may reside anywhere in Florida if they work for a business located in a zone.

 

Corporate Jobs Tax Credit:

 

Allows businesses located in the EZ who pay a corporate income tax credit for wages paid to new employees who have been employed by the business for at least three months and are residents of the Florida EZ.  Wages and JTPA participants may reside anywhere in Florida if they work for a business located in a zone.

 

Property Tax Credit:

 

New or expanded businesses located in an EZ are allowed a credit on Florida Corporate Income Tax equal to 96% of ad valorem taxes paid on the property. (the assessment rate varies by county)

 

Sales Tax Refund for Business Machinery and Equipment used in an EZ:

 

A refund is available for sales taxes paid on the purchases of certain business property. (e.g. tangible personal property tax such as office equipment, warehouse equipment, and some industrial machinery and equipment), which is used exclusively in the EZ.

 

Sales Tax Refund for Building Materials used in an EZ:

 

A sales tax refund is available for sales taxes paid on the purchase of building materials used to rehabilitate real property located in an EZ.

  

Community Contribution Tax Incentive Program:

 

Allows businesses anywhere in Florida a 50% credit on Florida corporate income tax or insurance premium tax for locations to local community development projects.  Donations must be made through an eligible non-profit corporation conducting an approved community development project.  The annual amount of credits granted is limited to $200,000 per firm and $5,000,000 per state.

 

Sales Tax Exemption for Electrical Energy used in an EZ:

 

A 50% sales tax exemption is available for businesses located in an EZ on the purchase of electrical energy.  If 20% or more of the permanent, full time employees are residents of the Florida Enterprise Zone, the exemption is 100% of sales tax.  This exemption is only available if the municipality in which the business is located has passed an ordinance to exempt Enterprise Zone businesses from 50% of the municipality utility tax.

 

ALL applications are available upon request from the City of Bradenton Planning and Zoning Department.  Applications must be received and approved by the Planning and Zoning Department and then forwarded to the Florida Department of Revenue.