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News Alert: Tax Credits for Employers with Apprenticeship Programs

Updated: Sep 18, 2023

Apprenticeship, Car maintenance and auto service garage. Car maintenance and auto service garage concept.

The Associated General Contractors of America states that 72 percent of its members believe there are not enough individuals seeking skilled trades or those applying for these jobs do not possess the necessary skills. Apprenticeship programs provide training and work experience under the supervision of a craftsperson and are the key to fixing the shortage. Over 17,400 apprentices and 2,170 pre-apprentices are participating in these programs throughout Florida.

Florida Experiential Learning Tax Credit Program

Florida is focused on ensuring the workforce is ready to meet the needs of C-Corporation employers in a constantly evolving global marketplace. A new experiential learning tax credit will make it easier and more cost-effective for employers to employ registered apprenticeships and pre-apprentices as a talent development strategy. Florida had approximately 360 registered apprenticeship and pre-apprenticeship programs during the 2022-2023 year. This law also encourages local school districts to expose students to apprenticeships in numerous occupations as early as 8th grade. Students can start participating in the programs in 11th grade.

For taxable years beginning during calendar years 2022 through 2025, 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 year, per corporation. The credit amount is $2,000 per apprentice, pre-apprentice, or student intern, with a maximum of $10,000 each year.

A total of $2.5 million in credits is available for each of the four years of the program. Apprenticeships represent a direct investment in talent, and this new tax credit allows employers to invest these savings in their current and future workforce.

Eligibility for Florida Experiential Learning Tax Credit

A qualified business must comply with all eligible requirements and apply to the Florida Department of Revenue for the tax credit. Applications for apprentices, pre-apprentices, or student interns can be submitted individually or combined. Documentation substantiating the statutory requirements, including the apprentice/pre-apprentice worked at least 500 hours or the student intern worked full-time for nine consecutive weeks during the taxable year, must be submitted with the application.

A direct link to the application can be found here.

Federal Energy Tax Credit Eligibility Requires Compliance with Prevailing Wage and Registered Apprenticeship

The IRS has released new proposed regulations (REG-100908-23) regarding increased tax credits and deductions available for those who meet the prevailing wage and registered apprenticeship (PWA) requirements established by the Inflation Reduction Act. These regulations provide new guidance on the PWA requirements:

  • For certain green energy facilities or projects.

  • For taxpayers intending to claim the increased credit or deduction benefits and those looking to transfer increased credit amounts.

  • For taxpayers that initially fail to satisfy the PWA requirements but aim to rectify the non-compliance through specific correction and penalty protocols.

  • For PWA recordkeeping and reporting requirements.

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