F-1159 Form - Instructions For Filling F-1159
ADVERTISEMENT
1
2F-1159N
R. 04/00
Instructions for Filing F-1159
Page 2
Who May Use This Form?
Business Information
Corporations may participate in this program of child care
Please provide the FEIN, name, address, contact name,
tax credits against corporate income tax or insurance
Internet e-mail address, phone number, and fax number of
premium tax, but not both. The child care tax credits are
the corporation that is applying for the credit.
based upon child care costs incurred on or after December
31, 1998, on behalf of employees. Applications must be
Facility Information
submitted during each tax year to obtain approval for
credits to be taken in that tax year. The child care costs
Please provide the FEIN, name, address, Internet e-mail
must be incurred in the current tax year except in the case
address, phone number, fax number and the child care
of the credit based upon the start-up costs associated with
facility license number if applicable. If there is more than
establishment of a child care facility. If two or more
one facility, attach a list of all the facilities that includes
corporations join together or cause a not-for-profit
FEIN, name, address, and child care facility license number
corporation to start and operate a child care facility, the
if applicable. Written verification from the Department of
corporations must file a joint application or the not-for-profit
Children and Families or a local licensing agency that
corporation may file the application.
the corporation or child care provider meets the
licensure requirements as defined in Section 402.302,
Florida Statutes, and is currently licensed in
Program Limitations
accordance with Section 402.305, Florida Statutes, or is
The amount of the credits cannot exceed $50,000 annually
a facility providing daily care to children who are mildly
for each corporation or $50,000 for each approved jointly
ill must be provided. For answers to questions about
operated facility. The total amount made available by the
how to obtain the required written verification, please
Legislature to all taxpayers is $2 million annually.
contact the Department of Children and Families at
850-488-4900 and ask for a child care licensing
If the credit granted to a corporation or jointly operated
specialist.
facility is not fully used in any one year because of
insufficient tax liability, the unused amount may be carried
Consolidated Return Filing Information
forward for a period not to exceed 5 years.
Complete this information if a consolidated corporate
Estimated costs may be used in completing this application.
income tax return will be filed using a different name and
The amount of the credit taken must be less than the
FEIN than supplied in the Business Information section.
amount approved for credit when the actual costs are less
Provide the corporate name and FEIN that will appear on
than those estimated. The credit must be based upon
the Florida Corporate Income/Franchise and Emergency
actual costs incurred and/or actual number of children of
Excise Tax Return (F-1120) upon which the approved credit
employees enrolled in the facility. The amount of credit
will be taken. Providing this information will facilitate
taken cannot be greater than the amount approved
processing of the consolidated return by enabling the
even if the actual costs incurred are greater than the
Department to associate the approved credit with the tax
estimated costs.
return.
If a credit approval for child care start-up costs is received
The credit cannot be applied for (or approved) on a
and the facility fails to operate for at least 5 years, there is a
consolidated basis. Each separate corporate entity must
repayment requirement under certain conditions.
apply for its own credit for the employees’ children. The
credits for start-up costs and operation of a facility are only
available to the entity directly operating the facility.
Joint Application
In the case of a joint application or if a not-for-profit
Section 220.19, Florida Statutes, provides for the credit to
corporation is applying on behalf of two or more
be approved on an individual corporate basis with a
corporations, check the box labeled “Joint Application” on
$50,000 limit per corporation per tax year. The statutes
the front of the application. Attach a list of all the individual
provide for an aggregation of individual corporate limits
corporations, federal employer identification numbers
when a consolidated return is filed. More than one $50,000
(FEIN), names, addresses, etc. Include the proportion
limitation may be available per consolidated return when
expressed as a percentage of any approved credit for each
several subsidiary corporations have been approved credits
corporation.
that total to an amount greater than $50,000.
ADVERTISEMENT
0 votes
Related Articles
Related forms
Related Categories
Parent category: Financial