FL – Guidance provided on change in application process for child care tax credit

Beginning October 1, 2024, taxpayers that wish to participate in the child care tax credit program must apply to the Florida Department of Revenue to receive a tax credit allocation against the following taxes:

• corporate income tax;

• excise tax on liquor, wine, and malt beverages;

• gas and oil production severance tax;

• insurance premium tax; and

• use tax due under a direct pay permit.

Taxpayers are instructed to apply for a tax credit allocation by visiting the department’s multi-tax credit webpage at https://floridarevenue.com/taxes/taxesfees/Pages/multitaxcredits.aspx. A taxpayer can select the multi-tax credit program to participate in and review information about each of the credits and how they apply against the applicable taxes.

Taxpayers required to file and pay electronically must apply online. Taxpayers not obligated to file and pay electronically may apply by submitting Form DR-556000, Child Care Tax Credits Program – Application for Tax Credit Allocation. The department will send notification of approval or denial of the request for an allocation of credit. Tax Information Publication, No. 24ADM-03, Florida Department of Revenue, September 24, 2024