2025 Standard Mileage Rates Released (Notice 2025-5; IR-2024-312)
The IRS released the optional standard mileage rates for 2025. Most taxpayers may use these rates to compute deductible costs […]
Read MoreFlorida 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
The IRS released the optional standard mileage rates for 2025. Most taxpayers may use these rates to compute deductible costs […]
Read MoreThe IRS, in partnership with the Coalition Against Scam and Scheme Threats (CASST), has unveiled new initiatives for the 2025 […]
Read MoreThe IRS reminded disaster-area taxpayers that they have until February 3, 2025, to file their 2023 returns, in the entire […]
Read MoreThe IRS has announced plans to issue automatic payments to eligible individuals who failed to claim the Recovery Rebate Credit on their […]
Read MoreFlorida has issued motor vehicle sales tax rates by state as of January 15, 2025. Florida law allows a partial […]
Read MoreFor purposes of calculating the 2025 intangible personal property tax on governmental leaseholds, the Florida Department of Revenue has issued […]
Read MoreThe IRS, along with Security Summit partners, urged businesses and individual taxpayers to update their security measures and practices to protect against […]
Read MoreThe IRS has issued its 2024 Required Amendments List (2024 RA List) for individually designed employee retirement plans. RA Lists […]
Read More