Florida’s New Child Care Tax Credits for EmployersAct Now – Applications open October 1st with limited credits available.

 

Did you know that Florida’s new tax bill (House Bill 7073) creates a tax credit for employers who operate or support a child care program for their employees?

How Does This New Bill Help Employers?

The bill incorporates many offerings. Among them:

  • An employer building an onsite child care center is allowed a tax credit of 50% of startup costs, up to a maximum credit of $250K - $1M depending on the total number of employees.
  • An employer providing onsite child care is allowed a direct service credit of up to $300/month/child up to a maximum credit of $50K - $1M depending on the total number of employees.
  • An employer providing a tuition subsidy to employees is allowed a credit of 100% for up to $3,600/year/child up to a maximum credit of $50K - $1M depending on the total number of employees.

Applications for these credits may be submitted beginning October 1, 2024. For an employer to claim the credit, their application must first be approved. Credits will be approved on a first-come, first-served basis and limited funds are available.

How Can LCG Help You?

As one of Florida’s largest child care providers, with nearly 80 schools across the state, Learning Care Group (LCG) has the experience and depth of resources to customize a child care benefit program for you and your team.
Learn More About Our Different Solutions

Don’t hesitate to reach out today before the applications become available in October. Call 866.829.0027 or email partnerships@learningcaregroup.com for more information.

This material has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for, tax, legal or accounting advice. You should consult your own tax, legal and accounting advisors before engaging in any transaction.

Let’s Talk

​We'd love to chat and learn more about the child care benefit needs of your company. Please complete this form, and we’ll be in touch soon. Thank you!

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Get In Touch

Interested in adding child care benefits? Contact one of our Partnership Specialists at 866.829.0027 or partnerships@learningcaregroup.com today.

Current employees, please visit the Employee Lounge or contact us at 877.767.5241.

Parents, job seekers, and all other inquiries, please contact us here.

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