Among three presentations to the Association for Corporate Growth North Florida Chapter about tax avoidance and incentives, the one about state incentives hit the most current chords.
"There is money to be had out there," said Louis Alvarez Jr., director of the State and Local Tax practice of the McGladrey accounting firm in Orlando.
Alvarez was joined by three other McGladrey executives for the May 16 panel discussion titled "Tax Avoidance in the Current Reform Environment – Perspectives on Legitimate Available Incentives and Opportunities."
Jeff Delle Fave, a partner in International Tax in Fort Lauderdale, and Kristie Angle, manager of International Tax in Orlando, joined Alvarez on the panel. Greg DeVino, the lead tax partner in the Jacksonville office, moderated the discussion.
Alvarez focused on state tax incentives, a prevalent topic in Northeast Florida. City Council has been reviewing and approving incentives for job expansions that include a state share.
"People want jobs. Jobs bring people. People pay taxes," Alvarez said. "Everyone benefits."
The Association for Corporate Growth event took place Downtown at The River Club. Almost 65 members and guests attended.
At least seven Jacksonville economic development projects this year include a state participation in the incentives. Those are Body Central Corp.; Corys Thunder Inc.; DB Services New Jersey Inc. and DB Services Americas Inc.; Digital Risk LLC; The Bruss Co.; Railex LLC; and SunGard AvantGard LLC.
Together the projects expect to create more than 1,300 jobs.
Alvarez focused on state business growth-related credits and incentives. He outlined the public purpose of the programs, including economic development, historic preservation and low-income housing.
The economic development focus is on projects that foster job creation or retention in specific industries or companies; location-specific projects to revitalize blighted areas through incentives targeted to enterprise and empowerment zones and brownfields; and "green" credits to remediate environmentally contaminated properties and promote clean air and energy efficiency.
Alvarez talked about investment tax credits and contribution tax credits, cautioning that the state can "recapture" some funds should the recipient organization not achieve certain criteria.
"The state is going to potentially want some of your money back," he said.
Florida tax credits and incentives are concentrated in targeted industries, workforce training, infrastructure and "special opportunities," such as rural zones, he said.
One popular incentive, found among many Jacksonville economic development projects, is the Qualified Target Industry Tax Refund program, which is available for companies that create high-wage jobs in targeted industries.
While the basic refund is $3,000 for each net new full-time equivalent job created, there are bonuses for specific types of jobs or areas.
Refunds can include corporate income, sales, ad valorem, intangible personal property, insurance premium and other taxes, his presentation showed.
The community where the project takes place is responsible for 20 percent of the total tax refund and the state covers the remaining 80 percent.
Alvarez also covered other Florida targeted incentives, such as the Qualified Defense and Space Contractor Tax Refund; the Capital Investment Tax Credit; the High Impact Performance Incentive Grant; the Quick Response Training Program; the Incumbent Worker Training Program; and the Economic Development Transportation Fund, commonly called the road fund.
Florida special-opportunity incentives include rural, urban, enterprise zone and brownfields.
Alvarez outlined corporate income tax credits and sales tax exemptions. The day after the presentation, Florida Gov. Rick Scott signed into law a bill that offers a sales tax exemption for Florida manufacturers that are buying machinery and equipment.
"If you have clients that are expanding, you need to be aware and know who to get in touch with so that you don't leave any money on the table," Alvarez said.
Shad Khan named 2013 JA Baker Award recipient
Junior Achievement chose Jacksonville Jaguars owner Shad Khan as the recipient of the 15th Annual Thompson S. Baker "Solid as a Rock" Award.
The Junior Achievement Hall of Fame event, presented by Wells Fargo and Junior Achievement, is scheduled at noon June 13 at EverBank Field in the Lower West Club.
Duval County Superintendent of Schools Nikolai Vitti is scheduled as the keynote speaker.
For information, visit jajax.com or call Steve St. Amand at 398-9944, ext. 228.
UNF honors business leaders
The University of North Florida Coggin College of Business chose Gary Chartrand, Hugh Greene, Robert Frankel and Anna Lopez Brosche to receive its 16th Annual Prime F. Osborn III Distinguished Leader Awards.
Chartrand is executive chairman and former CEO of Acosta Inc. and chairman of the State Board of Education.
Greene is president and CEO of Baptist Health.
Frankel is the Richard de Raismes Kip Professor of Marketing and Logistics and chair of the Department of Marketing and Logistics at the UNF Coggin College of Business.
Brosche is the managing shareholder at Ennis, Pellum & Associates CPAs and chair-elect of the United Way of Northeast Florida.
Medical quality and safety forum scheduled Thursday
The 5th Annual Quality & Safety Forum is scheduled 7:45 a.m.-5 p.m. Thursday at the University of North Florida Herbert University Center.
The theme is "Creating a Culture of Quality and Safety."
The opening discussion is "Medical Excellence: The Value of Caring Communication, Ethics and Science and the Regional Quality Collaborative" by Dr. Yank Coble, director of the Center for Global Health and Medical Diplomacy, and Dr. William Maples, a professor with the center.
Presentations include "How to Create a Culture of Safety," "Communication, Culture Change and Safety," "Medical Home Port … Promoting Patient Engagement and Involvement" by the U.S. Navy surgeon general, and more.
There also are panel discussions and breakout sessions.
For information, visit unf.edu/brooks/global_health.
JU plans to break ground on health sciences building
Jacksonville University scheduled a groundbreaking event for its College of Health Sciences building at 9:30 a.m. Monday at the JU campus at 2800 University Blvd. N.
Speakers include JU President Tim Cost, JU Health Sciences Dean Judith Erickson, JU Health Sciences Associate Dean Christine Sapienza, nursing graduate Buchra Watfa with St. Vincent's HealthCare and others.
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