(1) There shall be a credit allowed against the tax imposed by this chapter in the amounts awarded by the Department of Economic Opportunity under the entertainment industry financial incentive program in s. 288.1254.
(2) A qualified production company as defined in s. 288.1254 that is awarded a tax credit under s. 288.1254 may not claim the credit before July 1, 2011, regardless of when the credit is awarded.
(3) To the extent that the amount of a tax credit exceeds the amount due on a return, the balance of the credit may be carried forward to a succeeding taxable year pursuant to s. 288.1254(4)(e).
History.—s. 14, ch. 2010-147; s. 94, ch. 2011-142.
Structure Florida Statutes
Title XIV - Taxation and Finance
Part II - Tax Imposed; Apportionment (Ss. 220.11-220.198)
220.1105 - Tax imposed; automatic refunds and downward adjustments to tax rates.
220.12 - “Net income” defined.
220.13 - “Adjusted federal income” defined.
220.131 - Adjusted federal income; affiliated groups.
220.15 - Apportionment of adjusted federal income.
220.151 - Apportionment; methods for special industries.
220.152 - Apportionment; other methods.
220.153 - Apportionment by sales factor.
220.16 - Allocation of nonbusiness income.
220.181 - Enterprise zone jobs credit.
220.182 - Enterprise zone property tax credit.
220.183 - Community contribution tax credit.
220.184 - Hazardous waste facility tax credit.
220.1845 - Contaminated site rehabilitation tax credit.
220.185 - State housing tax credit.
220.186 - Credit for Florida alternative minimum tax.
220.1875 - Credit for contributions to eligible nonprofit scholarship-funding organizations.
220.1876 - Credit for contributions to the New Worlds Reading Initiative.
220.1877 - Credit for contributions to eligible charitable organizations.
220.1895 - Rural Job Tax Credit and Urban High-Crime Area Job Tax Credit.
220.1899 - Entertainment industry tax credit.
220.19 - Child care tax credits.
220.191 - Capital investment tax credit.
220.1915 - Credit for qualified railroad reconstruction or replacement expenditures.
220.193 - Florida renewable energy production credit.
220.194 - Corporate income tax credits for spaceflight projects.
220.195 - Emergency excise tax credit.