FL – Guidance on internship tax credit program issued

Florida issued guidance regarding the student internship credit program for corporate income taxpayers. The program has been renamed as the Experiential Learning Tax Credit Program, and its scope has been expanded to include the hiring of:

apprentices; or

preapprentices.

An eligible apprentice or preapprentice must work in the state for 500 or more hours.

For tax years beginning during calendar years 2022 through 2025, a student internship tax credit is available for up to five apprentices, preapprentices, or student interns per taxable year, per corporation. The credit amount is $2,000 per apprentice, preapprentice, or student intern. A total of $2.5 million in credits are available for each of the four years.

Who Is a Qualified Apprentice?
A qualified apprentice is any individual:

who is 16 years of age;

who is learning a skilled trade while working for a journeyworker craftsperson; and

who entered a written apprentice agreement with a registered apprenticeship sponsor.

A registered apprenticeship sponsor can include an employer, an association of employers, or a local joint apprenticeship committee.

Who Is a Qualified Preapprentice?
A qualified preapprentice is any individual:

who is 16 years of age or older; and

who is enrolled in a public school course that is registered as a preapprenticeship program with the Florida Department of Education.

Tax Information Publication, No. 23C01-02, Florida Department of Revenue, July 07, 2023, released August 2023