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Tax Break Tracker Individual Entry

Each individual entry is a single program reported by a single jurisdiction in a given fiscal year. Because we want to track the level and quality of disclosure as well as the content, the values below -- with the exception of program names -- are entered exactly as they are reported. See our user guide for more explanations.

StateFlorida
Reporting JurisdictionFlorida
Jurisdiction type: State
Fiscal year ending In2019
Program nameNew Markets Development Program
Program purpose: Capital investment
Statutory authority: Section 288.9916, F.S.
Abating jurisdiction(s): State of Florida
Applicable taxesCorporate Income Tax; Insurance Premium Tax
Method of abatement: Tax Credit
Provisions for recapture: If erroneous credits are discovered during an audit of the taxpayer's books and records, the amount of tax offset by the credit will be assessed.
Gross revenue loss: $48,586,000
Reimbursement / offset: $0
Net revenue loss: $48,586,000
Type of loss: Active
Additional notes on dislosure(none)
Document sourcehttps://www.sbafla.com/bondfinance/Financial-Information/Florida-Annual-...