No. CS/HB 1041
Filed under Development & Land Use.
Business Development Incentives for Veterans and Military Spouses ; Requires DOS to waive specified fees for certain businesses; provides eligibility & registration requirements for such waivers; provides tax exemptions for certain businesses; provides eligibility requirements for such exemptions; requires DOR to establish procedures for claiming such exemptions; provides for rulemaking & interagency cooperation; provides annual reporting requirements.
Plain English Summary
AI-GENERATEDThe Department of State must waive all fees for new or relocating veteran and military spouse businesses. This applies to entities established or moved to Florida between July 1, 2026, and June 30, 2031.
Eligible businesses receive a five-year corporate income tax exemption. The start date depends on ownership percentage and how long the business has operated in the state.
Businesses also get a one-time sales tax exemption on equipment and supplies directly related to their operations. The Department of Revenue will establish the specific procedures for claiming these exemptions.
To qualify, a business must be at least 51 percent owned and operated by a veteran or military spouse. It must also have 200 or fewer full-time employees and a net worth of $5 million or less.
AICreates a mandatory fee waiver for new and relocating veteran and military spouse businesses.
AIGrants a 5-year corporate income tax exemption to qualifying veteran and military spouse businesses.
AIProvides a one-time sales tax exemption on business equipment and supplies.
AILimits incentives to businesses with 200 or fewer employees and a net worth of $5 million or less.
AIRestricts fee waivers to businesses established or relocated between July 1, 2026, and June 30, 2031.