Instructions For Completing Form F-1156z - Florida Enterprise Zone Jobs Credit Certificate Of Eligibility For Corporate Income Tax - Florida Department Of Revenue Page 2
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2F-1156ZN
R. 02/03
The credit is calculated as follows:
Column J. Multiply the applicable credit by Total Wages
(Column I) and enter the result here.
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40 percent of the monthly wages paid if the hourly rate is
$4 above the hourly federal minimum wage rate.
Preparation of Schedule F
. If claiming the credit on
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41 percent if the hourly rate is $5 above the hourly federal
Schedule B or Schedule D, complete Schedule F and its
minimum wage rate.
subschedule, and attach a list of all other permanent, full-time
•
42 percent if the hourly rate is $6 above the hourly federal
employees.
minimum wage rate.
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Subschedule F. Computation of Allowable Credit
43 percent if the hourly rate is $7 above the hourly federal
minimum wage rate.
Line 1. Enter the total number of permanent, full-time
•
44 percent if the hourly rate is $8 above the hourly federal
employees who live in an enterprise zone or rural enterprise
minimum wage rate.
zone. These employees must have worked at least three (3)
months and average at least 36 hours per week.
Preparation of Schedules A through E
Line 2. Enter the total number of permanent, full-time
Form F-1156Z contains formats for Schedules A through E. Use
employees who have worked at least three (3) months and have
these formats to create a list of employees for each applicable
averaged at least 36 hours per week.
job credit. Complete the appropriate credit computation
schedule to determine the credit for each new employee. Attach
Line 3. Divide Line 1 by Line 2 and enter the result.
the schedules to your Form F-1156Z.
Part II. Tax Liability Limitation and Computation of
Instructions for completing Columns A though J
Credit
Column A. Enter the name and place of residence of each new
Line 1. The amount of credit on Line 1, which was computed on
employee for whom credit is claimed. The place of residence
wages paid to new employees during the taxable year, shall be
shall be the employee’s residence on the date shown in
applied against and limited to the corporate income or franchise
Column E.
tax liability for the taxable year; therefore, enter on this line the
amount of total tax due from Form F-1120 (Florida Corporate
Column B. Enter the social security number of the new
Income Tax Return) , Page 1, Line 11.
employee.
Line 2. The amount of credit allowed is limited to the total
Column C. Place a check mark in this column if the employee is
corporate income or franchise tax due after certain credits are
a leased employee.
applied. Enter on Lines 2(a) and 2(b) the appropriate amounts of
other credits as listed on Form F-1120, Schedule V (Credits
Column D. If applicable, enter the enterprise zone number or
against the tax). Instructions for Form F-1120 explain the
name of the rural county in which the new employee resides.
computations of these other credits.
Exception: Schedule E. Column D is used to indicate the credit
Line 3. The tax liability limitation is the total tax due on Line 1
percentage taken.
minus the sum of the credits on Line 2.
Column E. Enter the date that the new employee began
Line 4. Enter the total credit claimed based upon the actual
employment in the operations of the business.
monthly wages paid to eligible new employees during this
taxable year from Part I - Schedules A, B, C, D, and E, Column J.
Column F. Enter the last day of business of the tax year for
Line 5. The unused portion of the total enterprise zone jobs
which credit is claimed. If the employee is no longer employed
credit may be carried forward from taxable years ended after
on that date, enter the last day of the last calendar month the
July 1, 1995, to the next succeeding taxable year. Enter the
employee was employed.
amount shown on Form F-1157Z, Part II (Tax liability limitation),
Line 8, for the immediately preceding taxable year, if applicable.
Column G. Enter the amount of wages paid to the new
employee on which the credit is computed for the taxable year.
Line 6. The total credit available (before application of the tax
liability limitation) is the sum of the credit for the current taxable
Column H. Enter the number of months of wages on which the
year (Line 4) plus the unused credit (if any) carried forward from
credit is based. Since the credit is computed on wages paid
the immediately preceding year (Line 5).
during the taxable year, the period of up to 24 consecutive
Line 7. Enter the lesser of Line 3 (Tax liability limitation) or
months over which credit may be allowable may include three (3)
Line 6 (Total credit available) as the allowable credit used this
calendar years.
taxable year.
Column I. Multiply the Actual Monthly Wages (Column G) by
Line 8. Enter the amount of any unused credit available to be
the Total Months (Column H) and enter the result here.
used in the next succeeding taxable year (Line 6 less Line 7).
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