Form F-1156z - Florida Enterprise Zone Jobs Credit Application For Corporate Income Tax Page 4
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4F-1156ZN
Instructions for Completing Florida Form F-1156Z
R. 09/13
Business in Enterprise Zone and Employees in Welfare
paid during the taxable year, the period of up to 24 consecutive
Transition Program – 40 to 44 Percent Credit
months over which credit may be allowable may include three
(Use Schedule E)
calendar years.
To qualify, the business must be located in a Florida enterprise
Column I. Multiply the Actual Monthly Wages (Column G) by
zone and new employees must be welfare transition program
the Total Months (Column H) and enter the result here.
participants.
Column J. Multiply the applicable credit by Total Wages
You should calculate the credit as follows:
(Column I) and enter the result here.
•
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 Schedule B
•
41 percent if the hourly rate is $5 above the hourly federal
or Schedule D, complete Schedule F and its subschedule, and
minimum wage rate.
attach a list of all other permanent, full-time employees.
•
42 percent if the hourly rate is $6 above the hourly federal
minimum wage rate.
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
months and average at least 36 hours a week.
Preparation of Schedules A through E
Line 2. Enter the total number of permanent, full-time
employees who have worked at least three months and have
Florida Form F-1156Z contains formats for Schedules
averaged at least 36 hours a week.
A through E. Use these formats to create a list of employees
for each applicable job credit. Complete the correct credit
Line 3. Divide Line 1 by Line 2 and enter the result.
computation schedule to determine the credit for each new
employee. Attach the schedules to your Florida Form F-1156Z.
Part II. Tax Liability Limitation and Computation of
Credit
Instructions for completing Columns A though J
Line 1. The amount of credit computed on wages paid to new
Column A. Enter the name and place of residence of each
employees during the taxable year must be applied against and
new employee for whom you are claiming credit. The place of
limited to the corporate income or franchise tax liability for the
residence must be the employee’s home address on the date
taxable year. Therefore, enter on this line the total tax due from
shown in Column E.
Florida Form F-1120 (Florida Corporate Income Tax Return),
Column B. Enter the social security number (SSN) of the
Page 1, Line 11.
new employee. SSNs are used by the Florida Department of
Line 2. The amount of credit allowed is limited to the total
Revenue as unique identifiers for the administration of Florida’s
corporate income or franchise tax due after certain credits are
taxes. SSNs obtained for tax administration purposes are
applied. Enter on Lines 2(a) and 2(b) the appropriate amounts
confidential under ss. 213.053 and 119.071, F. S., and not
of other credits as listed on Florida Form F-1120, Schedule V
subject to disclosure as public records. Collection of your SSN
(Credits against the tax). Instructions for Florida Form F-1120
is authorized under state and federal law. Visit our Internet site
explain the calculations of these other credits.
at and select “Privacy Notice” for
more information regarding the state and federal law governing
Line 3. The tax liability limitation is the total tax due on Line 1
the collection, use, or release of SSNs, including authorized
minus the sum of the credits on Line 2.
exceptions.
Line 4. Enter the total credit claimed based on the actual
Column C. Place a check mark in this column if the employee
monthly wages paid to eligible new employees during this
is a leased employee.
taxable year from Part I - Schedules A, B, C, D, and E,
Column J.
Column D. If applicable, enter the enterprise zone number
or name of the rural county in which the new employee lives.
Line 5. You may carry forward the unused portion of the total
Exception: Schedule E. Column D is used to show the credit
enterprise zone jobs credit to the next succeeding taxable year.
percentage taken.
Line 6. The total credit available (before application of the tax
Column E. Enter the date the new employee began
liability limitation) is the sum of the credit for the current taxable
employment with the business.
year (Line 4) plus the unused credit (if any) carried forward from
the immediately preceding year (Line 5).
Column F. Enter the last day of business of the tax year for
which you claim credit. If the employee is no longer employed
Line 7. Enter the lesser of Line 3 (Tax liability limitation) or
on that date, enter the last day of the last calendar month you
Line 6 (Total credit available) as the allowable credit used this
employed the employee.
taxable year.
Column G. Enter the amount of wages paid to the new
Line 8. Enter any unused credit available to be used in the next
employee on which the credit is computed for the taxable year.
succeeding taxable year (Line 6 minus Line 7).
Column H. Enter the number of months of wages on which
the credit is based. Since the credit is computed on wages
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