If you are a participant of the State of Florida’s Qualified Target Industry Tax Incentive (QTI) program, you should have received your QTI Claim Application by now. It is time to prove to the State that you have met your QTI compliance goals for 2010.
Have you analyzed your payroll data to determine if you successfully achieved your QTI compliance goals?
Have you analyzed your tax data to determine if you qualify for a full refund?
TIP: If you haven’t started preparing your compliance reports don’t fret, you still have time. The State gives you an opportunity to request a one-time 30-day extension, which gives you some additional time. Please note – your request must be in writing. This gives you until March 2nd to submit your claim application and supporting documents to the State’s agent responsible for verifying your claims.
It is your responsibility to ensure that all required documentation is submitted to support satisfaction of your compliance goals/commitments. Proper documentation will result in timely review of your QTI claim package, which will ultimately result in timely payments.
For additional information on how to analyze your payroll data to determine whether you qualify for a tax refund; how to determine the amount of refund you will receive; or what type of documentation you are required to submit, contact me by email at email@example.com.