Corporate taxpayers are encouraged to prepare for the Florida Strong Families Tax Credit Program, which opens for applications at 9:00 a.m. ET on January 2 each year. This program provides a dollar-for-dollar credit against select Florida taxes for contributions to approved charitable organizations.
Eligible Taxes
The credit may be applied against:
- Corporate Income Tax
- Excise Tax on Liquor, Wine and Malt Beverages
- Gas and Oil Production Severance Tax
- Insurance Premium Tax
- Use Tax due under a Direct Pay Permit
Review
Taxpayers should review the Federal Contribution Limits to ensure full utilization of the deduction. The federal limit on charitable deductions is 10% of income.
Application Process
To participate, taxpayers may apply through the Florida Department of Revenue and receive approval to allocate the credit. Once approved, the taxpayer must make a monetary contribution to a designated charitable organization and obtain a Certificate of Contribution, which is submitted with the tax return to claim the credit.
Program Limits
The program has an annual cap of $40 million, and credits are allocated on a first-come, first-served basis. In prior years, the full allocation has been claimed within minutes of the application window opening. Early preparation is strongly recommended.
Eligible Organizations
Organizations must be Florida-based501(c)(3)nonprofits that provide:
- Services to at-risk families.
- Parenting support for fathers.
- Assistance to families with children who have disabilities.
- Workforce development for families of children eligible for free or reduced-price meals.
For example, Better Together, Metropolitan Ministries, One More Child, Hope Haven, Sail Future and others are qualifying organizations.
Additional Benefit
If the full credit cannot be used in the current year, the unused portion may be carried forward for up to 10 years.
This program allows corporations to meaningfully impact Florida families while managing their tax obligations. Withum’s SALT team provides guidance and support throughout the application process.
Author: Bonnie Susmano, JD, MBA | [email protected]
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