As of this month, all business tenants of commercial rental properties can apply for an allocation under the new Florida Sales Tax Credit Scholarship Program. If approved, the tenant receives a credit against the state sales tax due on rent or license fee payments for donations made to an eligible nonprofit scholarship-funding organization.
The credits can be used against sales tax on rent or license fee payments beginning October 1, 2018.
In addition to that, the state offers a dollar-for-dollar credit against specific Florida taxes if your business makes voluntary donations to eligible nonprofit scholarship-funding organizations.
The Florida Tax Credit Scholarship Program even lets taxpayers make private contributions to eligible nonprofit scholarship-funding organizations and get a a dollar-for-dollar credit against some Florida taxes like the corporate income tax the excise tax on liquor, wine, and malt beverages, the gas and oil production tax, the insurance premium tax; and the sales and use tax due under a direct pay permit.
These programs are cool because they expand educational opportunities to children in the state by encouraging private business donations.
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