Looking for a Florida Department Of Revenue Forms And Templates? Download it for free!

Florida Department of Revenue Form DR-908 Instructions

DR-908N

R. 01/18

Page 6

project, as defined in s. 220.191(1)(g)1. and 2., F.S. Attach

allocate the salary of the service company employees under

a copy of the certification indicating that the insurer

certain circumstances. See s. 624.509(5)(b)4., F.S.

has been approved to receive this credit. A pro forma

Net tax is defined as the tax imposed after deductions from

insurance premium tax return indicating the qualifying

the total premium tax due for the Firefighters’ Pension Trust

project’s Florida premium tax liability for the year must

Fund Credit, the Municipal Police Officers’ Retirement Trust

also be attached to be able to claim this credit. This credit

Fund Credit, and the total corporate tax paid.

is granted against only the portion of the Florida insurance

An insurer that made an irrevocable election on or before

premium tax liability generated by or arising out of a qualifying

August 1, 2005, for the alternative salary credit calculation

project. Insurers may apply for this credit with Enterprise

under s. 624.509(5)(a)2., F.S., may allocate the eligible salaries

Florida, Inc., at 850-298-6620.

of the affiliated group to the members of the affiliated group

The Capital Investment Tax Credit for qualifying projects

that are covered by the election. The amount of salary credit

defined in s. 220.191(1)(g)3., F.S., may not be claimed against

allowed under this exception is limited to the combined Florida

the insurance premium tax.

salary tax credits allowed for all insurance companies that

were members of the affiliated group of corporations for the

Line 10. Credit for Contributions to Nonprofit Scholarship

tax year ending December 31, 2002, divided by the combined

Funding Organizations

Florida taxable premiums written by all insurance companies

Enter the amount from Schedule V, Line 13.

that were members of the affiliated group of corporations for

the tax year ending December 31, 2002, multiplied by the

Line 11. New Markets Tax Credit

combined Florida taxable premiums of the affiliated group of

Per s. 288.9916, F.S., a credit is available for a qualified

corporations for the current year. Insurers who are covered

investment under the Florida New Markets Development

by an election under s. 624.509(5)(a)2., F.S., must include

Program administered by the Department of Economic

a calculation of the current year Salary Credit Cap for the

Opportunity. Attach a copy of the credit certification.

Affiliated Group (Total Florida Taxable Premiums for the

You may carry forward any unused credit for a period not to

Tax Year times Affiliated Group 2002 Factor), an allocation

exceed five (5) years.

of the affiliated group’s eligible salaries to the individual

Line 12. Total Credits

entities in the affiliated group, and the amount of salary

Enter the total of Lines 1 through 11 on Line 12. The total

credit that is being claimed by each individual entity

from Line 12 is then entered on Page 1, Line 2 of the return.

covered under the election. The sum of the salary credits

taken by all members of the affiliated group must not exceed

Schedule IV

the yearly salary credit cap. A reduction in salary credit for one

Computation of Salary Credit

or more of the entities in the affiliated group may be required

should the total salary credits claimed by all members exceed

In addition to completing Schedule IV, you must answer

the allowed cap. The reduced credit amount should be placed

Question A on Form DR-908, Page 2.

on Line 12 of Schedule V.

Under s. 624.509(5), F.S., a credit is allowed against the net

The exception to the standard salary tax credit requirements

tax imposed under s. 624.509, F.S., equal to 15 percent (.15)

for mutual insurance holding companies that were in existence

of the amount paid by an insurer in salaries to employees

on or before January 1, 2000, in s. 624.509(5)(b)5., F.S., is

within the State of Florida, and who are covered by the

NOT VALID because the associated funding provision in

provisions of Chapter 443, F.S., by the insurer filing this return.

s. 28 of House Bill 1813 was vetoed by Governor Bush on

June 20, 2005. (See ss. 26 and 28 of Chapter 2005-280, Laws

The term “salaries” does not include amounts paid as

of Florida [L.O.F.] and Governor Bush’s veto letter of

commissions. The term “employees” does not include

SB 1813, s. 28 dated June 20, 2005.) No other funding has

independent contractors or any person whose duties

been provided at this time.

require that the person hold a valid license under the Florida

Insurance Code, except “adjusters,” “managing general

Insurers claiming this credit must attach a copy of their

agents,” and “service representatives,” as defined in

quarterly Form RT-6 to their annual premium tax return,

s. 626.015, F.S.

Form DR-908. Form RTS-71 must also be attached with the

corresponding RT-6 forms, when a portion of concurrent

When claiming a salary tax credit, there are certain

employees’ wages are claimed as eligible salaries. If

requirements the insurer must meet to qualify for the credit.

you electronically file Forms RT-6 and RTS-71, you may

These requirements are:

substitute printouts of your quarterly electronic filings

• The employees claimed are not excluded under

when those printouts include the company name, FEIN,

s. 624.509(5), F.S.

and reemployment tax number of the entity for which

• The wages used in the credit calculation must be wages

the electronic filing was submitted; the name of each

employee; and each employee’s gross wages, excess

paid to the insurer’s employees by the insurer claiming the

wages not subject to tax, and net taxable wages. If Form

credit.

• Those employees must be located or based in Florida.

RTS-71 is electronically filed for concurrent employees,

• The insurer claiming the credit is the employer, and

a breakout by company should be included. If an insurer

the employees are covered by the unemployment

is claiming a salary tax credit, Form DR-908 is considered

compensation provisions contained in Chapter 443, F.S.

incomplete without this documentation.

Line 1. Total Premium Tax Due

An affiliated group of corporations that created a service

company within its affiliated group on July 30, 2002 may

Enter the total from Schedule I, Line 12.

Instructions For Form Dr-908n - Florida Insurance Premium Taxes And Fees Return - 2018 Page 6

Related Articles

Related forms

Related Categories