Form F-1158z - Enterprise Zone Property Tax Credit Page 3
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4F-1158ZN
Instructions for Florida Form F-1158Z
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
located in an area designated as an enterprise zone
credit. Second, attach to your tax return a copy of Form
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
enterprise zone.
the certified receipts for the ad valorem taxes paid.
When may a business take the credit? The credit is
An “emergency” means widespread or severe damage,
injury, or loss of life or property occurring and proclaimed
available to a new business the year in which ad valorem
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
Credit Limitations
which ad valorem taxes are first levied on real or tangible
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
amount of credit allowable each year under this program
credit a new, expanded, or rebuilt business must file Form
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
business location are residents of an enterprise zone, the
April 1 of the year in which new or other real or tangible
personal property is subject to ad valorem assessment.
maximum credit must not exceed $50,000.
The business must have at least 5 more full time
The enterprise zone property tax credit is state financial
employees at the business location than it had in the
assistance subject to the auditing and reporting
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
year the credit is claimed.
of the Auditor General, Chapter 10-650 (nonprofit and
for-profit organizations). For more information, refer to
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
calculate the credit annually on the additional ad
approved to do business in Florida subject to the Florida
valorem taxes paid in Florida during the taxable year
franchise tax on banks and savings associations.
resulting from assessments on additional real and
tangible personal property acquired to facilitate such
“New business” means any business that operates
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
taxes paid in Florida during the taxable year resulting
operations owned by the same business. It also employs
five or more additional full-time employees in Florida.
from assessments on property replaced or restored.
“Ad valorem taxes paid” means 96 percent of property
“Expansion of an existing business” means any business
taxes levied for operating purposes and must not include
located in an area designated as an enterprise zone that
interest, penalties or discounts forgone. Levies for debt
expands by or through additions to real and tangible
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