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Form GT-800017 Fillable Corporate Income Tax (Brochure) R.01/15
(all forms fillable on Windows, Mac, Android tablets, and iPad using Adobe Reader XI)
A corporation doing business outside Florida may apportion its total income Adjusted Finally you should compute tax by multiplying Florida net income by 5 5 percent It claims no tax credits other than tentative tax payments or estimated tax payments It conducts 100 percent of its business in Florida It does not have to pay Federal Alternative Minimum Tax It does not report any additions to and/or subtractions from federal taxable income It has Florida net income of $45 000 or less It is not included in a Florida or federal consolidated corporate income tax return On or before the first day of the fourth month following the close of the tax year or Proposed rules notices of rule development workshops and more regular tax that is due for that year over the Florida AMT calculated for that year Tax Information Publications (TIPs) The 15th day following the due date without extension for the filing of the related You should add non business income allocated to Florida to the Florida portion of You should then subtract an exemption of up to $50 000 to arrive at Florida net (Florida Form F 1120ES) Go to the Department s website to file and pay estimated tax 2015 will be available in January 2015 3 3 percent The tax due is whichever amount is greater: the regular Florida corporate income 50 percent to sales 5050 W Tennessee St 6th month the last day of the 9th month and the last day of the tax year A corporation that has zero tax due or owes less than $2 500 in tax may file Florida Form A limited liability company (LLC) classified as a corporation for Florida and federal income A single member LLC disregarded for Florida and federal income tax purposes is not required adjusted federal income All associations or artificial entities doing business earning income or existing in Florida All corporations (including tax exempt organizations) doing business earning income or All corporations and other organizations listed here must file a return even if no tax is due AMT paid over the amount of Florida regular tax that would have otherwise been due The An LLC classified as a partnership for Florida and federal income tax purposes must file a and federal income tax purposes must file a Florida corporate income tax return assessed The Florida Partnership Information Return (Florida Form F 1065) is due on Associations) you are not required to file a Florida return available Florida AMT credit that you may take in a tax year is limited to the amount of Florida been approved by the Department of Revenue Before using software ask the vendor for proof that the forms in the software package have by the original due date of the Florida return Properly filing this form will automatically give certain Florida adjustments to determine adjusted federal income Contact Us Corporate Income Tax Corporate income tax is imposed by corporation In addition the corporate owner of an LLC classified as a partnership for Florida corporation must file Florida Form F 1120 reporting its own income and the income of the corporations 6 months from the due date of the return to file the corporate return For Department s website for a list of approved software vendors The list of approved vendors for due date of the Florida return If tax is not paid on time penalties and interest will be Electronic Filing electronically through the IRS Modernized e File (MeF) Federal/State Electronic Filing Program Estimated Tax Estimated tax payments are due on or before the last day of the 4th month the last day of the estimated tax payments on a Declaration/Installment of Florida Estimated Income/Franchise Tax Every bank and savings association doing business earning income or existing in Florida existing in Florida F 1120A if it meets all the following criteria: federal income is apportioned to Florida using a three factor formula The formula is a federal return whichever is later Any balance of tax owed must be paid in full by the federal/state electronic filing program Filing a Corporate Short Form (Florida Form F 1120A) Florida Alternative Minimum Tax (AMT) Florida corporate income tax liability is computed using federal taxable income modified by Florida Department of Revenue Florida Department of Revenue Corporate Income Tax Page 1 Florida Department of Revenue Corporate Income Tax Page 2 Florida Department of Revenue Corporate Income Tax Page 3 Florida Partnership Information Return (Florida Form F 1065) if one or more of its owners is a For a written reply to tax questions write to: for Extension of Time to File Return (Florida Form F 7004) must be filed with full payment of tax Foreign (out of state) corporations that are partners or members in a Florida partnership or Form F 1120 or F 1120A Generally the Florida corporate income tax return is due: Go to: www myflorida com/dor/list GT 800017 Homeowner and condominium associations that file federal Form 1120 (U S Corporation How Are We Doing? If a corporation owes more than $2 500 in Florida corporate income tax annually it must make If an extension is requested a Florida Tentative Income/Franchise Tax Return and Application in Florida income income tax purposes are subject to Florida corporate income tax and must file either Florida income tax return Income Tax Return) must file Florida Forms F 1120 or F 1120A regardless of whether any tax Information forms and tutorials are available on our website: www myflorida com/dor joint venture A Florida partnership is a partnership doing business earning income or existing may be due If you file federal Form 1120 H (U S Income Tax Return for Homeowners member LLC Monday through Friday excluding holidays at 800 352 3671 must file and pay electronically if you paid $20 000 or more in tax during the state of Florida s or before the first day of the fifth month following the close of the tax year other than a net operating loss deduction and/or state income taxes if any owner s return if the single member LLC is owned directly or indirectly by a corporation The partnerships the extension will give you 5 months from the due date of your return to file your Please give us your feedback on this publication by taking a one minute survey Go to our Political organizations that file federal Form 1120 POL prior fiscal year (July 1 June 30) Go to the Department s website for more information R 01/15 return You can file Florida Form F 7004 electronically on our website or through the IRS MeF S corporations that pay federal income tax on Line 22c of federal Form 1120S section (s ) 220 11 Florida Statutes (F S ) single member LLC even if the only activity of the corporation is ownership of the single Subscribe to our tax publications to receive due date reminders or an email when we post: Tallahassee FL 32399 0112 Tax Base and Rate Tax exempt organizations that have unrelated trade or business taxable income for federal tax or the Florida AMT In later years corporations that paid AMT are allowed a credit tax purposes is subject to the Florida Income Tax Code and must file a Florida corporate tax year Florida AMT is computed by multiplying Florida alternative minimum taxable income by Taxpayer Services MS 3 2000 The amount of the available credit carried over to later years is equal to the amount of Florida to file a separate Florida corporate income tax return The income must be reported on the To find a taxpayer service center near you go to: www myflorida com/dor/contact html To speak with a Department representative call Taxpayer Services 8 a m to 7 p m ET using electronic transmitters approved by the IRS and the Florida Department of Revenue You Using Software to Prepare Your Return website and select Surveys under Quick Links weighted average designating 25 percent each to factors for property and payroll and When Tax Is Due Who Must File? You are able to file and pay your Florida corporate income tax return (Florida Form F 1120) You may purchase commercial software to prepare and file your paper return Go to the You must compute Florida alternative minimum tax (AMT) if you paid federal AMT for the same