PDF document

- 1 -

                                                                                                                        F-1158Z
                                 Enterprise Zone Property Tax Credit                                                    R. 08/13
                                                                                                                        Rule 12C-1.051
                                                                                                                       Florida Administrative Code
                                                                                                                        Effective 01/14
                                                                                                  Attach to
                                                             For Calendar Year                    Form F-1120
                                                                   or
    Other taxable year beginning                                ,    , and ending                                   ,  .

Name (As shown on your Florida Form F-1120 Corporate          Federal Employer Identification Number (FEIN)  Enterprise Zone Identifying Numbers
Income Tax Return)                                                                                  For Each Location (attach list)

Address of Location (attach separate list for each location)                                      Business is a “small business” as defined 
                                                                                                  by section (s.) 288.703, Florida Statutes (F.S.)

Part I.  Qualification for credit (see instructions).

1. (  )  New business location within an enterprise zone.
     Total number of full-time employees employed at the business location:
     (a)  Throughout the current tax year for which the credit is claimed.                  1. (a)
     (b)  Throughout the tax year preceding the tax year that the credit was
      initially granted.                                                                    (b)
     (c)  Total number of additional full-time employees throughout the current
      tax year for which the credit is claimed: Line (a) minus Line (b).                      (c)
     (d)  To qualify for the credit, Line (c) must be five or more.
2. (  )  Expansion of an existing business location within an enterprise zone.
     Total number of full-time employees employed:
     (a)  Throughout the current tax year for which the credit is claimed.                  2. (a)
     (b)  Throughout the tax year preceding the tax year that the credit was
      initially granted.                                                                    (b)
     (c)  Total number of additional full-time employees throughout the current
      tax year for which the credit is claimed: Line (a) minus Line (b).                      (c)
     (d)  To qualify for the credit, Line (c) must be five or more.
3. (  )  Rebuilding of an existing business located in an enterprise zone.
4. (  )  (a)  Number of full-time permanent employees employed at the business       4. (a)      
                          location who are residents of an enterprise zone (attach listing).
     (b)  Total number of full-time permanent employees at the business location.    (b)
     (c)  Divide Line (a) by Line (b) and enter here to determine whether the  
      business meets the 20% criteria.                                                        (c)

Part II.  Credit allowable for ad valorem taxes paid this year (see instructions).
   Enter below the amount of ad valorem taxes paid this year. Attach copies of the validated receipts for the ad valorem taxes paid 
   this year (see instructions).
                                                                                            Ad Valorem Tax Paid
     Ad Valorem Tax on:          Date of Payment                                                  (see instructions)

5. Real Property                                                               $

6. Tangible Personal Property

7. Total (add Lines 5 and 6)                                                   $

- 2 -

Enlarge image

                                                                                                                                F-1158Z
                                                                                                                                R. 08/13
Part III.  Unused credit carryover from prior tax years (see instructions).

8. Enter below the amount of unused credit carryover from each of the five preceding tax years in
   order of time (see instructions).
   (a) Tax year the unused credit   (b) Amount of the                 (c) Amount applied in        (d) Balance of unused credit 
      was created.                    unused credit.                     intervening tax years.     available this year.

                                    $                                 $                            $

9. Total amount of unused credit carryover available this tax year.                                $

Part IV.  Tax liability and tax year limitation (see instructions).

10.  Enter amount of total tax due from Florida Form F -1120, Page 1, Line 11.                     10.  $

11.  Enter the following credits from Florida Form F-1120, Schedule V:

           (a)  Florida health maintenance organization credit.                             (a)  $

           (b)  Capital investment tax credit.                                              (b)   $

           (c)  Enterprise zone jobs credit.                                                (c)   $

           (d)  Community contribution tax credit.                                          (d)   $

   Total other credits against the tax [add Lines (a) through (d)].                                11.  $

12.  Tax liability limitation (subtract Line 11 from Line 10).                                     12.  $

Part V.  Enterprise zone property tax credit for this year (see instructions).

13.        (a)  Credit allowable for ad valorem taxes paid this year from Line 7.           (a)  $
            (Limited to $25,000 or $50,000.)
           (b)  Unused credit carryover available from prior tax years from Line 9.         (b)  $

14.  Total amount of credit available this year [total of Lines 13(a) and 13(b)].                  14.  $

15.  Enterprise zone property tax credit (lesser of Line 14 or Line 12). 
   Enter amount on Florida Form F-1120, Schedule V.                                                15.  $
Under penalties of perjury, I declare that I have read this Application, and the facts stated in it are true to the best of my knowledge 
and belief.

      Date                                     Signature of Officer                                      Title

I certify that this Application contains the information required in section 220.182, F.S., and meets the criteria established as eligible to 
receive an enterprise zone property tax credit.

      Date                                   Signature of Enterprise Zone Coordinator                    Title

An enterprise zone property tax credit is authorized upon an affirmative demonstration by the taxpayer 
to the satisfaction of the Florida Department of Revenue that the requirements of section 220.182, F.S., 
have been met.

- 3 -

Enlarge image

Instructions for Florida Form F-1158Z F-1158ZN
R. 08/13
Enterprise Zone Property Tax Credit
Rule 12C-1.051
Florida Administrative Code
Effective 01/14

General Instructions

Who must file? Every taxpayer claiming an enterprise personal property and employs five or more additional
zone property tax credit must file by performing the full-time employees in Florida.
following steps. First, complete Florida Form F-1158Z
and attach it to the tax return for each year you claim the “Rebuilding of an existing business” means any business
credit. Second, attach to your tax return a copy of Form located in an area designated as an enterprise zone
DR-456, Notice of New,Rebuilt or Expanded Property , that replaces or restores real or tangible personal
filed with the property appraiser. Lastly, attach copies of property destroyed or damaged in an “emergency” in the
the certified receipts for the ad valorem taxes paid. enterprise zone.

When may a business take the credit? The credit is An “emergency” means widespread or severe damage,
available to a new business the year in which ad valorem injury, or loss of life or property occurring and proclaimed
taxes are first levied against the business. The credit is under s. 14.022, F.S., or declared under s. 252.36, F.S.
available to an expanded or rebuilt business the year in
which ad valorem taxes are first levied on real or tangible Credit Limitations
personal property acquired for expansion or rebuilding.
When filing for credit as a new, expanded, or rebuilt
What are the filing requirements? To be eligible for the business located within an enterprise zone, the maximum
credit a new, expanded, or rebuilt business must file Form amount of credit allowable each year under this program
DR-456 with the property appraiser of the county where must not exceed $25,000. However, if 20 percent or
the business is located or will be located no later than more of the permanent full-time employees at the
April 1 of the year in which new or other real or tangible business location are residents of an enterprise zone, the
personal property is subject to ad valorem assessment. maximum credit must not exceed $50,000.

The enterprise zone property tax credit is state financial The business must have at least 5 more full time
assistance subject to the auditing and reporting employees at the business location than it had in the
requirements of the Florida Single Audit Act, under preceding year to qualify for the initial credit. This
section (s.) 215.97, Florida Statutes (F.S.), and Rules employment requirement must be maintained for each
of the Auditor General, Chapter 10-650 (nonprofit and year the credit is claimed.
for-profit organizations). For more information, refer to
http://www.myflorida.com/audgen/pages/flsaa.htm Part II. Credit allowable for ad valorem taxes.
or contact the Auditor General at (850) 488-5534 or by
e-mail at flaudgen@aud.state.fl.us. For a new business, the credit is calculated annually on
the ad valorem taxes paid in Florida during the taxable
Part I. Qualification for credit. year on new real property and new tangible personal
property acquired.
In the following definitions of a new, expanded, or rebuilt
business, the term “business” means any business entity For the expansion of an existing business, you must
approved to do business in Florida subject to the Florida calculate the credit annually on the additional ad
franchise tax on banks and savings associations. valorem taxes paid in Florida during the taxable year
resulting from assessments on additional real and
“New business” means any business that operates tangible personal property acquired to facilitate such
in an area designated as an enterprise zone on a site expansion. For the rebuilding of an existing business,
clearly separate from any other commercial or industrial you must calculate the credit annually on the ad valorem
operations owned by the same business. It also employs taxes paid in Florida during the taxable year resulting
five or more additional full-time employees in Florida. from assessments on property replaced or restored.

“Expansion of an existing business” means any business “Ad valorem taxes paid” means 96 percent of property
located in an area designated as an enterprise zone that taxes levied for operating purposes and must not include
expands by or through additions to real and tangible interest, penalties or discounts forgone. Levies for debt

- 4 -

Enlarge image

F-1158ZN
R. 08/13

service are not included in the credit calculation Part IV. Tax liability and tax year limitation.
because this calculation is limited to levies for
operating purposes only. In addition, for purposes of Line 10. The credit must be applied against the
the credit, “ad valorem taxes paid” means the tax paid corporate income or franchise tax liability for the taxable
on new or added real and tangible personal property year. Therefore, enter on this line the total tax due amount
acquired to set up a new business and to facilitate a from Florida Form F-1120, Page 1, Line 11.
business expansion. “Ad valorem taxes paid” also means
the tax paid on new or added real and tangible personal Line 11. The amount of credit allowable is limited to
property acquired to rebuild or restore a destroyed or the total corporate income or franchise tax due after
damaged business, including pollution and waste control certain credits are applied. Therefore, enter on Lines 11(a)
facilities or any other part of it. This may include one or through 11(d) the amounts claimed for the specified
more buildings or other structures, machinery, fixtures, credits from Florida Form F-1120, Schedule V. Enter the
and equipment. total other credits against the tax [sum of Lines 11(a)
through 11(d)].
Lines 5 and 6. Enter the date of payment and the taxes
paid on Line 5 for real property and on Line 6 for tangible Line 12. The tax liability limit on the amount of credit
personal property. allowable is the total tax due on Line 10 minus the total
other credits against the tax on Line 11.
Line 7. Enter the total ad valorem taxes paid (Line 5 plus
Line 6) on this line. Part V. Enterprise zone property tax credit for this
year.
Part III. Unused credit carryover from prior tax years.
Lines 13 and 14. The total amount of credit available
If you do not fully use the credit granted in any one this year is the sum of the credit allowable for ad valorem
year, you may carry the unused amount forward for a taxes paid this year on Line 7 and the amount of unused
period not to exceed five years. You may use the credit credit carryover available this year on Line 9.
carryover in a later year when the limitation exceeds the
credit for such year. Line 15. The enterprise zone property tax credit that
you can claim this year is the lesser of the total amount
Line 8. Complete the table to determine the balance of of credit available this year (from Line 14) or the limit on
unused credit carryover available this year from each of the amount of credit that you may claim this year (from
the five immediately preceding tax years in order of time. Line 12). Enter this amount on Florida Form F-1120,
In entering the years the unused credit carryovers were Schedule I, Page 3, Line 8.
created, start with oldest year. In applying unused credit
carryovers, apply the unused credit carryover from the
oldest year first.

Line 9. Enter the total amount of unused credit carryover
available this tax year which is the sum of the amounts in
8(d).

PDF file checksum: 1895250396

(Plugin #1/10.13/13.0)