Florida, with its $5 billion in revenue from the oil and gas industry, is the top state for private-sector tax credit programs.
This year the state is offering $2,500 for the purchase of a home, $500 for a car and $500 in cash for a business.
But for the year’s first quarter, the program is worth just $300.
The $300 is a fraction of the $4.5 billion state tax credit received in fiscal year 2016, when it was worth $6.4 billion.
The new tax credit is only available to Floridians who work for at least one of the four major Florida employers: ExxonMobil, Shell, BP and General Motors.
In 2017, the oil industry had about 4.5 million employees.
According to a 2016 report by the nonprofit Institute for Policy Integrity, about 80 percent of the state’s $3.9 billion in taxes were collected by the oil, gas and mining industries.
About three-quarters of the industry is in the Gulf Coast region, while about a quarter is concentrated in the Tampa Bay area.
According to state data, in 2016, the state received more than $100 million in federal tax credits, but that number is expected to fall this year.
Federal tax credits account for about 70 percent of total state tax credits and account for nearly $2 billion in the state.
Florida is the only state in the country to receive tax credits worth less than half of its annual revenue, the Institute for Taxation and Economic Policy reported in 2017.
The Florida Tax Credit Program, a nonprofit, nonpartisan group that provides information to lawmakers, estimates that the program currently is worth $2.5.
However, the report notes that most of that $2 in 2017 tax credits will likely be returned to taxpayers by the end of 2021, as Florida is on track to reach a $5.5-billion budget deficit.
The state is set to be back in the black in 2019.
The program was created by Congress in 2009 and was originally intended to help small businesses, but the program has expanded to include individuals.
It is funded by payroll taxes on workers who are working for the state or its employers.
Florida has one of its largest private- sector tax credit plans, totaling $4 billion a year, according to a state budget analysis published by the Legislative Fiscal Bureau.
The report estimated that $1.5 of every $2 of the tax credit goes to Floridian taxpayers.
The Taxpayer Advocate Service, which has been a critic of the program, estimates the program covers about $1 billion of the estimated $6 billion deficit, though it has been unable to quantify the total amount due to a lack of data.
Rick Scott has defended the tax credits program as a way to help low-income families.
“These tax credits are designed to help people who are struggling, or struggling in the economy, who are able to work, or are looking to work.
This is the way we have always done it,” Scott said in 2017 during an appearance on “Meet the Press.”
“And we are going to continue to do it.”
Scott is not alone in saying the program helps the poor.
According the Taxpayer Advoc Service, the number of people living in poverty in Florida has dropped from about 13 percent in 2017 to 8.4 percent in 2021.
However the program also supports those who work outside the home, as it helps people who cannot afford to pay for their own housing or are unable to pay taxes.
Scott’s proposal would cut that benefit by $1,500 a year.
However some analysts say the proposal is too low, saying that the proposal could be offset by reducing benefits for people who receive tax credit payments.
“There’s a lot of people who aren’t going to be impacted by this,” said Greg Kopp, a tax policy expert at the conservative Heritage Foundation.
“It’s an easy fix, but I don’t think it’s a big enough fix.”
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