2023 Florida Apprenticeship Tax Credit
Under Governor Ron DeSantis, Florida is focused on ensuring our workforce is ready to meet the needs of employers in a constantly evolving global marketplace. A new experiential learning tax credit for businesses is one more way state leaders are making it easier and more cost-effective for employers to use registered apprenticeships as a talent development strategy.
The Florida Experiential Learning Tax Credit program allows a tax credit against the Florida corporate income/franchise tax for up to five apprentices, pre-apprentices, or student interns per taxable year, per corporation. The credit amount is $2,000 per apprentice, pre-apprentice, or student intern (maximum of $10,000 for each taxable year).
A total of $2.5 million in credits is available for each of the four years of the program, 2022-2025. Apprenticeships are an investment in talent, and this new tax credit allows employers to invest these tax savings in their current and future workforce.
A direct link to the application for the tax credit can be found here.