The Community Contribution Tax Credit Program provides a financial incentive (up to 50 percent tax credit or sales tax refund) to encourage Florida businesses to make donations toward community development and housing projects for low-income persons.
The tax credit is easy for a business to receive. Businesses located anywhere in Florida that make donations to approved community development projects may receive a tax credit of up to 50 percent of the value of the donation. Businesses may take the credit on Florida corporate income tax, insurance premium tax or as a refund against sales tax (for businesses registered to collect and remit sales taxes with the Department of Revenue).
Before making a donation, please be sure it will qualify. A list of eligible organizations is available from the Department of Economic Opportunity. To receive approval, a business donating to an eligible sponsor need only submit a tax credit application with the Department of Economic Opportunity. In order to claim the tax credit, simply attach proof of the approved donation when you file your state tax return. In order to claim a sales tax refund, submit an Application for a Sales Tax Refund (Form DR-26S). More details on the approval process are contained on page 4. Please refer to Program Overview.
Non-profit organizations and units of state and local governments may apply to become eligible sponsors and solicit donations under the program by completing the Sponsor Project Application.
This summary is based on Florida Statutes (sections 212.08(5)(p), 220.183 and 624.5105, Florida Statutes). Readers are advised to consult these references for additional details.
$24.9 million dollars of tax credits may be approved each state fiscal year starting on July 1, 2015.
For further information, please contact:
Burt C. Von Hoff
Department of Economic Opportunity
Division of Strategic Business Development
107 East Madison Street; MSC 80
Tallahassee, Florida 32399