Oct 01, 2024
Businesses that want to help their employees out with the cost of childcare can now start applying for tax credits.If a business opens a childcare facility on site for its employees, a new law signed earlier this year will provide tax credits for each employee up to $3,600 and a separate tax credit to cover 50% of the startup costs.A business that helps offset the cost for its employees at a facility within the community can also receive tax credits. The bigger the business, the higher the overall credit allowed.The state set aside about $5 million each year for the next three years for these tax credits, but its not guaranteed after thatessentially, its use it or lose it."The cap across the board this year is $5 million, which isnt a ton of money, but I think the goal was to get the program started and then maybe address issues after that," said Carolyn Johnson, Vice President of Government Affairs at the Florida Chamber of Commerce.For 23 years, the Sunshine State had a child tax credit for business, from 1985 to 2008.Click here for more details.
Respond, make new discussions, see other discussions and customize your news...

To add this website to your home screen:

1. Tap tutorialsPoint

2. Select 'Add to Home screen' or 'Install app'.

3. Follow the on-scrren instructions.

Feedback
FAQ
Privacy Policy
Terms of Service