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Form F-1120N Fillable Instructions for Preparing Form F-1120 for the 2015 tax year R.01/16
(all forms fillable on Windows, Mac, Android tablets, and iPad using Adobe Reader XI)
A copy of the related federal consolidated return that was filed A limited liability company (LLC) classified as a corporation A redetermination of federal income is made (for example A single member LLC disregarded for Florida and federal A statement reconciling the amount reported on Line 1 with Actual contributions made Adjusted Federal Loss All associations or artificial entities doing business earning All corporations (including tax exempt organizations) doing Amount of excess contributions Amount of the carryover(s) previously deducted An LLC classified as a partnership for Florida and federal Apply by mail with IRS Form SS 4 To obtain this form Apply online at www irs gov Apportioned excess contribution to be carried over and Apportionment fraction for the taxable year in which the loss Apportionment Fraction for the Year of Loss At least 90 percent of the tax finally shown to be due for the Attach a pro forma federal return which is a federal return as if Be sure to make personal file copies Column (a) The required depreciation adjustment is for Column (b) Taxpayers who were required to include an Columns (a) and (b) Beginning with tax years ending in Columns (a) and (b) Florida adjusted federal ordinary Columns (a) and (b) No consolidated income adjustment Consolidated federal taxable income from Line 30 of federal Corresponding line (taxable income) of the federal income tax Depreciation Elections Election A means the election made by taxpayers for taxable years Election B means the election made by taxpayers for taxable years Every bank and savings association doing business earning Federal contribution limitation Federal employer identification number (FEIN) Florida Apportioned Income/Loss Florida apportionment fraction for the taxable year(s) Florida Portion of Adjusted Federal Income For each assessment levied and paid after December 31 1996 For each assessment levied before January 1 1997 0 1 percent of For ease of processing and to ensure Foreign (out of state) corporations that are partners or Homeowner and condominium associations that file federal If a taxpayer is governed by Election A or Election B and If you used software to produce your tax return last It claims no tax credits other than tentative tax payments or It conducts 100 percent of its business in Florida It does not report any additions to and/or subtractions from It has Florida net income of $45 000 or less It is not included in a Florida or federal consolidated corporate It is not required to pay Federal Alternative Minimum Tax Make sure that the software is for the correct year You Net Operating Loss Carryover (NOLCO) Applied NOL Carry Forward to Next Year Notify the Department of a change of Penalties and Interest and the instructions for Line 14) Political organizations that file federal Form 1120 POL Preparer tax identification number (PTIN) Proposed rules notices of rule development workshops and more regular Florida tax is due subsequent to the tax year for which S corporations that pay federal income tax on Line 22c of Tax exempt organizations that have unrelated trade or Tax Information Publications (TIPs) Tax Year Taxpayers required to include amounts in the adjusted the ability to reprint your returns the ability to view bills posted to your account the ability to view your filing history The adjustments would affect net income subject to the Florida The applied period (taxable year end) for the payment credits The Department of Revenue must approve all vendor the federal excess contribution limitation apportioned to Florida The FEIN and complete names of the corporations or entities the Florida excess contribution carryover The tax computed using the prior year facts and income and The type of credit and the amount of payment credit you are To find filing due dates for the current Visit the Department s website to obtain a list of approved Written authorization including an original signature of a www myflorida com/dor/taxes/pdf/CIT due dates pdf Year(s) of federal excess contributions Year(s) of loss You file an amended federal return your bank account and contact information $ (1 000 000) $ (1 000 000) $ (1 000 000) $ (123 456) $ (123 456) $ (250 000) $ (250 000) $ (30 864) $ (30 864) $ 1 250 000 $ 1 500 000 $ 154 320 $ 185 184 $ 750 000 $ 92 592 $250 in total If no tax is due the penalty is $10 $50 000 exemption for each corporation If the controlled group is $50 per month or fraction thereof not to exceed $300 (1) On or before the first day of the fourth month following the close (1) Partnership adjustment (1) Partnership adjustment Florida adjusted federal ordinary (1[a] + 1[b] 1[c]) Enter result on Line 1 (2) Certain foreign taxes Enter the amount of taxes of (2) Consolidated income adjustment (2) The 15th day following the due date without extension for the (3) Cancellation of indebtedness income deferred under s 108(i) (3) Depreciation adjustment (4) Emergency excise tax credit (a) Coin or currency located in Florida (a) Fees commissions or other compensation for financial (a) Rental or royalty income if such income is significant in the (a) Sales of tangible personal property will be Florida sales if (a) The employee s service is performed entirely within Florida (b) Assets in the nature of loans located in Florida including (b) Gross profits from trading in stocks bonds or other (b) Interest received on deferred payments of sales of real or (b) Rentals will be Florida sales if the real or tangible personal (b) The employee s service is performed both within and (c) Income from the sale licensing or other use of intangible (c) Installment obligations on loans for which the customer (c) Interest other than interest from loans secured by (c) Interest received on deferred payments of sales of real or (c) Some of the employee s service is performed in Florida and (Computation of Florida Alternative Minimum Tax) Line 11 (d) Dividends received within Florida (d) Loans secured by mortgages deeds of trust or other liens (d) Sales of service organizations are within Florida if the (d) Sales of services (Declaration/Installment of Florida Estimated Income/ (e) A portion of a participation loan where the office that enters (e) For financial organizations income from intangible personal (e) Interest for carrying debit balances on margin accounts (excess contributions to qualified pension plans) and s 404(a)(3)(A)(ii) (f) Credit card receivables from customers who reside or who (f) Interest fees commissions and other charges or gains from (FLAHIGA) Assessment Credit (Florida additions and subtractions) To the extent that such (Florida Form F 1120) electronically through the IRS MeF Federal/ (g) Any other gross income including other interest resulting (g) Investments in securities that generate business income (h) Securities held by a state treasurer or other public official or (i) Leases of tangible personal property where the taxpayer s (j) Installment sale agreements originally executed by a taxpayer (k) Any other intangible personal property located in Florida used (Line 7) (MeF) Federal/State Electronic Filing Program using (NOLD) (RIC) or a real estate investment trust (REIT) enter the undistributed (rounded to 6 decimal (Schedule IV) (see instructions for Schedule VI page 14) must compute the 0 123456 0 123456 1 The affiliated group must have filed a consolidated return for 1) Your tentative tax due is not paid 100 percent 1120 Schedule D for this adjustment 14(a) and 14(c) To obtain Florida Form F 2220 see Contact Us 1954 enacted after January 1 1980 and before January 1 1982 1984 from sources within the United States as described 1984 to file a consolidated return on the same basis as its 2 The affiliated group electing to file a Florida consolidated 2) You underpay your tax by the greater of $2 000 or 30 percent of 20 percent of the amount of such assessments for each of the five 20 years following the year in which the assessment was paid 2010 or between July 1 2012 and June 30 2016 in connection 2012 an addition is required for the amount of emergency 3 In the initial year of election you must complete Florida 4 Complete Florida Form F 1122 and attach for each new 5 A copy of federal Form 851 or Florida Form F 851 (Corporate 5050 W Tennessee St 6 You must make the election by the due date of the return 6765 3800 and 1065 Schedule K 1 (if applicable) to the return An a copy of the underlying entity s federal Form 4562 and a A corporate income tax credit is available to a member of the a corporation In addition the corporate owner of an LLC A corporation qualifies to file Florida Form F 1120A if it meets ALL A corporation that is part of an affiliated group which filed a A credit against insurance premium tax or corporate income tax is A credit for Florida AMT paid is allowable in any tax year in which A credit is allowed to the owner of any commercial hazardous waste A credit is available against Florida corporate income tax as part A credit is available against Florida corporate income tax based upon A credit is available against Florida corporate income tax for A credit is available against Florida corporate income tax for A credit is available against Florida corporate income tax for a A credit is available against Florida corporate income tax for eligible A credit is available to eligible entities for a percentage of the costs a declaration was required and the computation of penalties and a different Federal Employer Identification Number (FEIN) the A floating rate of interest applies to underpayments late payments a Florida consolidated return a net operating loss for Florida The Florida excess contribution A or Election B on the taxpayer s assets You must attach a parent subsidiary group please indicate the parent corporation a return is required for a period of less than 12 months unless the a schedule of payments showing the amounts paid and dates A taxpayer doing business outside Florida should use Schedule IV accounting for Florida income tax accumulated depreciation Property rented is valued at eight times Activity Code is unknown see the Principal Business Activity Add Column (a) Lines 4 through 7 and enter the total Add Column (b) Lines 4 through 7 and enter the total Add s 78 income and s 862 dividends and subtract expenses added back for s 179 IRC expense in excess of $128 000 for each added back for the special bonus depreciation under s 168(k) added back under s 220 13(1)(e)3 F S when the deferred Additional Florida forms which may be needed address online at: www myflorida com/dor address or account status " adjust the amount included in Column (a) by the amount of Adjusted Federal Adjusted Federal Income adjusted federal income in Column (a) Adjusted Florida Income/Loss adjustment adjustment its distributive share of any depreciation difference adjustment on Schedule I Line 19 Administrative Code (F A C ) for information on the requirements after exemption is the base used for computing the Florida AMTI after the first day of the last month in the short taxable year When agreements federal funds sold and bankers acceptances All amounts related to nonbusiness income income related to All taxpayers must answer questions A through M all the required information and follow the format of the schedules on all transactions and activities of a taxpayer that are dependent upon allocated to Florida (Line 7 plus Line 8) If the sum of Line 7 plus allowed is limited to $200 000 per taxpayer You may carry forward Also enter this amount in the space provided at the bottom of Alternative Minimum Tax (AMT) net operating loss You must use the alternative minimum tax should only compute the Florida portion of alternative minimum taxable income before the NOLD Amended Declaration (Florida Form F 1120ES) amended declaration on or before the next installment due date amendments to the Internal Revenue Code that were enacted after amount already included in federal alternative minimum taxable amount as a tax preference item on federal Form 4626 for amount claimed for the current taxable year on Schedule I Line 7 amount deducted for income taxes paid to the District of Columbia amount entered on the front page of Florida Form F 1120 amount everywhere in Column (b) on Schedule III D Line 2 amount from Schedule R Line 1 amount in Column (c) by the weighted percentage in Column (d) amount is greater amount of AMT paid over the regular tax that would have otherwise amount of nonbusiness income included in federal taxable income amount of tax and the state to which it was paid amount of the NOLD to 90 percent of AMTI before the NOLD amount of the subtraction including subtractions claimed in earlier amount on the federal Form 4626 amounts reported in Schedule III A Column (b) for any two factors amounts that could be included in apportionable income without AMT that would be due if the AMT statutes were applicable AMTI using a pro forma federal Form 4626 The amounts reflected An annual capital investment tax credit is available to a qualifying An officer or person authorized to sign for the entity must sign all and 15 of Schedule V This is the amount taken for the renewable and 2 F S this credit is granted against only the portion of Florida and 7 of Schedule V This is the amount taken as rural and/or and a statement setting forth the details of the adjustment and activities in the regular course of a taxpayer s trade or business and all states including Florida Do not include taxes based on gross and are allowed a federal income tax credit under section 41 of the and attach it to Florida Form F 1120 (see Line 14 instructions) and deducted in computing federal taxable income for the taxable and have effective dates prior to January 1 1982 were and Health Insurance Guaranty Association (FLAHIGA) Assessment and indirectly attributable to ss 78 and 862 IRC on Line 1(c) and on the front page of Florida Form F 1120 (Line 8) AMT filers and overpayments of corporate income tax We update the floating and pay estimated tax To determine if a declaration and payment and prior period interest rates visit our website and the employee s residence is in Florida and used everywhere during the taxable year annual statement filed by the company with the Florida Insurance annualize your payments Any business claiming the credit must complete and attach a Florida Any business claiming the credit must complete and attach an Any person firm or corporation who prepares a return for any schedules are not sufficient The additional sheets must contain any supporting details for Schedules M 1 and M 2 Attach other any unused credits for a period not to exceed five (5) years Any unused federal limitation must be apportioned as well applicable carryover credit from Florida Form F 1158Z Application for Extension of Time to File Return apply to late payments Apportioned to Florida Apportionment Fraction apportionment fraction for the taxable year(s) apportioned excess apportionment fraction for the year in which the loss occurred appropriate schedules approved low income housing projects for a five (5) year credit period April 1 of the following year; or are commercially domiciled in Florida are saved are zero the weighted percentage for the remaining factor will be Area Job Tax Credit as a whole constitute the taxpayer s trade or business Functionally as if it had filed a separate federal income tax return Attach to as provided in s 220 16 F S The term nonbusiness does not include as well as property owned and used everywhere Compute the Assessment Credit and any Florida Life and Health Insurance assessments and annuity considerations as reported on the assessments may be credited against its insurance premium or assessments paid under s 631 828 F S This credit is limited to assets for which a depreciation adjustment was made in assets were placed in service between January 1 1981 and Assistance Assessment Credit associated expenses disallowed in the computation of taxable at 850 245 8927 Any unused credit may be carried forward for a at www sunbiz org Attach a copy of the actual federal income tax return filed with Attach a copy of the approval letter from the Florida Housing Finance Attach a copy of the approval to the return A corporation that uses Attach a copy of the assessment notice to Florida Form F 1120 Attach a copy of the certificate of contribution from each Attach a copy of the certification letter received from the Board Attach a copy of the certification received from the Department Attach a copy of the credit certification You may carry forward any Attach a copy of the decision approving the credit to the Florida Attach a schedule showing computations to support the credit Attach a statement showing the computations to support the credit Attach explanatory schedules Examples: attach it to Florida Form F 1120 attached to the return on which the credit is claimed available to member insurers of FLAHIGA as follows: average value using the formula provided on Line 6 Enter the value balances due from depository institutions repurchase banking facility banking facility is allowed as a deduction from adjusted federal base Florida net income on federal taxable income with certain based on gross receipts or income taxes paid to cities or counties based on: be more than $2 500 you must make a declaration of estimated be taken If the credit granted is not fully used in any one year the been due without application of the credit for contributions to been given prior permission by the Department to apportion income beginning prior to January 1 1987 pursuant to s 220 03(5)(b) F S beginning prior to January 1 1987 pursuant to s 220 03(5)(c) F S Beginning with tax years ending in 2012 there is a new emergency beginning with the year the project is completed A taxpayer that benefit plan deductions determined under s 404(a)(1)(E) IRC between January 1 1981 and December 31 1981 Enter this between January 1 2007 and June 30 2010 or January 1 2013 and bonds and interest included in the adjusted current earnings (ACE) both its insurance premium and corporate income tax liabilities bottom of the front page of Florida Form F 1120 Make your check business earning income or existing in Florida business immediately notify the Department business tax credit must attach a schedule reconciling how the business taxable income for federal income tax purposes are business that establishes a qualifying project Attach a copy of the Businesses and Employers " then select "Change by it the numerator and denominator of the above fraction include by multiplying their adjusted federal income by a fraction; the calendar years Attach a schedule showing the year and amount calendar years following the year in which such assessment was paid cancellation of indebtedness income is recognized for federal cannot readily handle verify or review cannot use 2015 software to produce 2016 tax forms capital investment tax credit is used in whole or in part by a member capital investment tax credit is used The name federal employer carried forward for a period not to exceed five (5) years carried forward for up to five years You may transfer this tax credit carried over and the amount of the carryover(s) previously deducted Carryover Apportioned to Florida Carryover Deduction (NOLD) instructions on page 4 including Carryover Deductions instructions on page 5 carryover on Schedule IV Line 5 Carryovers cents to the next lowest dollar and increase amounts from 50 cents certain eligible costs incurred between July 1 2006 and June 30 certification For qualifying projects defined in s 220 191(1)(g)1 Chapter 220 F S provides that corporations and other entities charged to customers at their business locations in Florida chartered university conducting graduate programs at the claimed claimed a copy of the Assessment Levy and a copy of the Certificate claimed by each entity must be included in the schedule claimed for the current year on Schedule I Line 10 claimed for the current year on Schedule I Line 8 classified as a partnership for Florida and federal income tax Code does not limit the amount of the NOLD to 90 percent of the Code the qualifying business and the entities claiming the qualifying Codes section of the IRS Instructions for Form 1120 Columbia and all states including Florida Do not include taxes Column (a) Apportionment of Adjusted Federal Income Column (a) by Column (b) and enter the result on Schedule III D Column (a) by the amount in Column (b) Round the result to six Column (a) Enter the amount of interest excluded from taxable Column (a) pursuant to s 220 03(5)(b) or (c) F S should Column (a) The amount of net operating loss deduction shown on Column (b) Column (b) Apportionment of Adjusted Alternative Minimum Column (b) Enter the amount entered under Column (a) less the Column (b) The net operating loss deduction should be the Column (e) Columns (a) and (b) Enter all amounts included in federal taxable Columns (a) and (b) Enter any other item required to be Columns (a) and (b) Enter one seventh of the amounts that were Columns (a) and (b) Enter the amount from Line 1 of Schedule V Columns (a) and (b) Enter the amount from Line 12 of Columns (a) and (b) Enter the amount from Line 13 of Columns (a) and (b) Enter the amount from Line 16 of Columns (a) and (b) Enter the amount from Line 17 of Schedule V Columns (a) and (b) Enter the amount from Line 18 of Schedule V Columns (a) and (b) Enter the amount from Line 19 of Schedule V Columns (a) and (b) Enter the amount from Line 20 of Schedule Columns (a) and (b) Enter the amount from Line 3 of Schedule V Columns (a) and (b) Enter the amount from Line 5 of Schedule V Columns (a) and (b) Enter the amount of excess charitable Columns (a) and (b) Enter the net capital loss carryover as Columns (a) and (b) Enter the subpart F income included in Columns (a) and (b) Enter the total amount of excess employee Columns (a) and (b) Enter the total of the amounts from Lines 14 Columns (a) and (b) Enter the total of the amounts from Lines 6 Columns (a) and (b) If the taxpayer s business is entirely within Columns (a) and (b) If you are a regulated investment company Columns (a) and (b) See Florida Excess Contribution Carryover Columns (a) and (b) See Florida Net Capital Loss Carryover Columns (a) and (b) See Florida Net Operating Loss Carryover Columns (a) and (b) The eligible net income of an international commercial domicile is in Florida unless the taxpayer Commissioner common parent has sales property or payroll in Florida companies citrus processing companies and taxpayers who have companies may not claim the community contribution credit against compensation must also sign the return and provide: complete Column (b) titled Adjusted AMT Income in Schedule IV Completing Florida Form F 1120 computation of eligible net income and a definition of international Computation of Florida Net Income Tax Compute the average value of property using Schedule III B On computed from the installment due date until the earlier of the computing the corporate income/franchise tax if any depreciable computing the Florida AMT consolidated federal tax return but the corporation is filing a consolidated return consolidated return for federal income tax purposes and paid the Consolidated Returns consolidated returns filed prior to July 19 1983 Attach a Contact Us contracts through a state university or a non public Florida contribution against corporate income tax for the taxable year of contribution carryover on Schedule IV Line 7 contribution carryover See the Florida Excess Contribution contribution limitation amount of excess contributions Florida contribution to be carried over and the amount of the carryover(s) contributions determined under s 170(d)(2) IRC carried forward contributions to nonprofit scholarship funding organizations (SFOs) controlled group of corporations as defined in s 1563 IRC If the controlled group of corporations as defined in s 1563 IRC If you copy of Florida Form F 7004 if timely filed copy of the approval letter for the tax credit or credit transfer to the copy of your federal extension alone will not extend the time copyright royalties to the extent they do not arise from transactions corporate income tax corporate income tax credit memos issued by the Department corporate income tax generated by or arising out of the qualifying Corporate income tax is imposed by section(s ) 220 11 Florida corporate income tax liability for the year it ceases doing business corporate income tax return if: corporate income tax return The income must be reported on Corporate Income/Franchise Tax corporate income/franchise tax Attach a supporting schedule Corporate Income/Franchise Tax Return corporate officer from the corporation or entity that made the Corporate Short Form Income Tax Return Florida Form F 1120A Corporate Short Form Income Tax Return) F 1120ES corporation the final C return is not considered to be a final tax return Corporation to be included in a Consolidated Corporation to be Included in a Consolidated Income Tax Corporation to the return Additional information can be obtained corporations located in an energy economic zone Attach a copy of Corporations or other entities subject to Florida corporate income Corporations required to pay federal AMT must compute the amount cost of stationary facility equipment used for recycling hazardous Credit available to certain insurers is not listed in s 220 02(8) F S credit Businesses may apply for this credit with Enterprise Florida credit certificate issued by the Florida Department of Environmental credit for the taxable year credit may be carried forward to tax years ending on or before credit on Florida Form F 1158Z credit transferred must be attached to the return Credits against the tax cannot exceed the amount of tax due on current earnings (ACE) adjustment should adjust the amount current year rates December 31 1986 Enter this adjustment on Schedule I Line 19 December 31 1986 for tax years ending prior to January 1 2012 December 31 2018 decimal places Enter the result in Column (c) of Schedule III A deduction and/or state income taxes if any Deduction instructions (page 4) deduction instructions on pages 4 and 5 deduction is the lesser of: Deductions Deductions instructions (page 5) defined in s 1212 IRC deducted from capital gains in computing denominator in Schedule III A Line 2 Column (b) For purposes of denominator is the average value of such property owned or rented denominator is the total sales of the taxpayer everywhere during denominator on Schedule III A Line 3 Column (b) Department of Environmental Protection Bureau of Waste Cleanup Department of Revenue certifying the amount of credit transferred Department s website for more information depreciation election (General Rule Election A or Election B) of Depreciation Elections determining if you must file a declaration of estimated tax for a short difference If the result is a loss enter zero (0) difference is the starting point for the computation The federal AMTI difference on this line and on Schedule VI Line 7 difference on this line and on the front page of Florida Form F 1120 direct premiums written for insurance upon properties and risks directly or indirectly owns an interest in a partnership trust or distance of one mile for consideration distributive share of the depreciation difference computed Divide Column (a) by (b) and enter the result on Schedule III D Do not detach the coupon located at the bottom of the first does not allow a taxpayer to apportion income using Schedule IV if doing business outside the state Making only sales in another download or order it from www irs gov or call 800 829 3676 DR 116200 Florida Tax Credit Scholarship Program Notice of Intent due Also enter the amount due in the space provided at the due date Make payments in U S funds Penalties and interest Due Dates for Declaration and Payment due not to exceed $10 000 An incomplete return is one that we due with the return If no tax is due and you file late the penalty is each included corporation must be attached Economic Opportunity s approval/certification letter to the return effect on January 1 1980 Attach a copy of federal Form 4562 Effective 01/16 effective date of such amendments Taxpayers who either the base of operations or the place from which the elected to be governed by the General Rule; or did not Election A and Election B taxpayers (see Depreciation Election A or Election B) Taxpayers beginning business in Florida Election B are required to make a depreciation adjustment in Elections section on page 7) The depreciation adjustment electricity produced at a Florida facility from renewable energy Electronic Filing Electronic Filing The penalty is 5% of the tax due for each month electronic transmitters approved by the IRS and the email address of the person to contact regarding this return emergency excise tax paid but not taken as a credit to be entered on employee and the property factor excludes any real or tangible end of year balances for property owned and used within Florida ends December 31 the Florida Form F 1120 is due on or before energy production tax credit for the taxable year energy technologies investment tax credit and the renewable enroll in our e Services program you will receive a user Enter 5 5 percent of Line 10 or the amount from Schedule VI Enter any available Florida employee benefit plan excess Enter any available Florida excess charitable contribution carryover Enter any available Florida net capital loss carryover deduction Enter any available Florida net operating loss carryover deduction Enter any other penalty or interest due on Lines 14(b) and 14(d) Enter each type (for example: dividends interest and royalties) and Enter each type (for example: dividends interest and royalties) the Enter the adjusted federal alternative minimum taxable income from Enter the adjusted federal income from Line 6 on the front page of Enter the amount from Schedule I Line 20 Column (b) Enter the amount from Schedule II Line 12 Column (b) Enter the amount of any other credits allowable against the Enter the amount of enterprise zone property tax credit including any Enter the amount of federal AMTI after the allowed $40 000 Enter the amount of overpayment you want applied to the following Enter the amount of overpayment you want refunded on Line 19 Enter the amount within Florida in Column (a) and the Enter the amounts within Florida in Column (a) and amounts Enter the Florida apportionment fraction from either Schedule III A Enter the numerator on Schedule III A Line 3 Column (a) and the Enter the sum of Lines 1 and 2 on Line 3 and on Schedule II Line 7 Enter the sum of Lines 1 through 21 on this line and on the front page Enter the total amount of additions or adjustments to federal Enter the total amount of state income taxes deducted on the Enter the total amount of state income taxes deducted on the federal Enter the total amount of subtractions from federal taxable income Enter the total credits against the tax from Schedule V Line 22 enter this amount in the space provided at the bottom of the front Enterprise Zone Jobs Credit Certificate of Eligibility for Corporate Enterprise Zone Property Tax Credit form (Florida Form F 1158Z) establishes that the location of the leased tangible property Estimated Income/Franchise Tax and F 7004 Florida Tentative Estimated Tax (Florida Form F 1120ES) estimated tax is 12 percent per year If you underpay your estimated estimated tax is due estimated tax payments Estimated Tax Worksheet everywhere in Column (b) on Schedule III D Line 1 Divide Examples of Florida Net Operating Loss Carry Forward Schedules exceed five (5) years excess contributions actual contributions made federal contribution excise tax credit (s 220 195 F S ) that is deductible from excise tax credit (s 220 195 F S ) which is equal to all of the excluded from the apportionment factors exclusively to the activities of sponsored research and development Exemption exemption or reduced exemption stated on the federal Form 4626 existing in Florida Expenses explained above for Election A or Election B The taxpayer s Extension of Time to File extension of time will be void if: extension per tax year Extensions are valid for six months We permit only one extent and for the same periods prescribed in s 1212 IRC F 1065 Florida Partnership Information Return F 1120 F 1120 is due on June 1 F 1120A Florida Corporate Short Form F 1120ES Declaration/Installment of Florida Estimated F 1120ES see "Contact Us" on page 15 The Department does F 1120N F 1120X Amended Florida Corporate Income Tax Return F 1122 Authorization and Consent of Subsidiary F 1156Z Florida Enterprise Zone Jobs Credit Certificate F 1158Z Enterprise Zone Property Tax Credit F 1193T Notice of Intent to Transfer Florida Energy Tax Credit which F 2220 Underpayment of Estimated Tax on Florida F 7004 Tentative Income/Franchise Tax Return and F 851 Affiliations Schedule facility for the sum of: (a) expenses for required hydrologic geologic factor apportionment fraction to apportion their income to Florida factor is zero the weighted percentage for the property and payroll factors on Schedule III A Lines 1 2 and 3 of Column (e) Enter the factors will change from 25 percent to 50 percent each If the Federal federal AMT must compute Florida AMT even if it files a separate federal consolidated return Federal Employer Identification Number federal excess contributions actual contributions made federal federal Form 1120S federal income by ratios of the taxpayer s property payroll and federal income tax at the corporate level federal income tax purposes federal income tax purposes Florida considers intangible personal federal return in the computation of federal taxable income Include federal return you must use it on the Florida return federal tax purposes) or federal Form 1120 Federal Taxable Income federal taxable income for the taxable year Refer to federal Form federal taxable income other than a net operating loss federal taxable income under s 951 IRC on Line 2(a) Enter the file a consolidated return the amount of exemption taken on Line 9 file a Florida return filed a Florida extension of time (Florida Form F 7004) Attach a filed a separate federal return filed a separate schedule listing the name address FEIN and the Filing filing of the related federal return for the taxable year For example filing the annual Florida return will be binding upon all members with Filing Tips final federal return When a C Corporation elects to become an S five percent of the amount of the assessment for each of the Florida Florida Florida Florida Administrative Code Florida allows a credit equal to 50 percent of a qualified community Florida allows only one $50 000 exemption to the members of a Florida AMT is 3 3 percent of the Florida alternative minimum taxable Florida AMT that may be due The corporation is liable for whichever Florida AMT was paid The amount of the credit is equal to the Florida Apportioned Florida apportionment fraction However adjustments such as Florida apportions the income of transportation companies Florida average on Line 8a of Schedule III B and on Schedule III A Florida by multiplying it by a fraction The numerator is the Florida carryover See Rule 12C 1 013(15) F A C Florida conforms to the 2015 Internal Florida consolidated return Florida Corporate Short Form F 1120A Florida corporation may apportion income Florida defines the term sales as gross receipts without regard Florida Department of Revenue Florida Department of Revenue Florida Department of Revenue The Department also Florida does not allow a taxpayer to apportion income if it is not Florida enter zero (0) If the business is outside Florida enter the Florida excess charitable contribution carryover on Schedule II Florida Excess Contribution Carryover Florida Form F 1120 Florida Form F 1120 or F 1120A Florida Form F 1120 or F 1120A regardless of whether any tax Florida Form F 1120 should be its federal taxable income computed Florida Form F 1120: Florida forms F 1120A F 1120ES Declaration/Installment of Florida Florida Health Maintenance Organization Consumer Assistance Florida income tax as it is for federal income tax If you change Florida Income Tax Code and must file a Florida corporate Florida insurance premium tax is not eligible to take it against Florida Florida Life and Health Insurance Guaranty Association Florida Net Capital Loss Carryover Deduction Florida net capital loss carryover on Schedule II Line 4 Florida Net Operating Loss Carryover Deduction Florida Portion of Florida portion of adjusted federal alternative minimum taxable Florida portion of adjusted federal income in Column (a) and the Florida return filed Check Final return only if you have filed a Florida s prior fiscal year (July 1 June 30) Florida Secretary of State For information contact the Department Florida Statutes do not provide a similar credit for Florida income Florida Statutes do not provide for a separate calculation for an Florida taxable income below zero Florida taxable income or the Florida AMTI The Florida Income Tax Florida taxpayers doing business outside Florida are required Follow instructions for Schedule IV Lines 4 through 7 Column (a); follow the instructions for Question H 1 following documentation is required: follows: 25 percent to property 25 percent to payroll and 50 For 100% Florida Taxpayers: For a calendar of filing due dates for Florida corporate income tax For a financial organization Florida sales will also include: For calendar year filers payments are due on April 30 June 30 For corporations not included within the definition of a financial for either the property or payroll factor is zero the weighted for filing your Florida return See Rule 12C 1 0222 Florida for Florida and federal income tax purposes is subject to the For Lines 1 2 and 3 of Schedule III A divide the amount in for proof that you are using approved software For qualifying projects defined in s 220 191(1)(g)3 F S when the for taxable years beginning For Taxpayers that Apportion (doing business outside Florida): for the corporation A return for a foreign (out of state) corporation for the Florida affiliated group and the amounts included in the for the taxable year for the taxable year plus any carryovers from previous years or For transferred credits a copy of the letter received from the For transportation other than by pipeline a revenue mile is the For written replies to tax questions write to: foreign countries allowable as credits under s 901 IRC Form 1120 (U S Corporation Income Tax Return) must file Form 1120 or Form 1125 A federal Form 1125 E (if required to complete for Form F 1065 must be entered on Line 11 of this schedule Form F 1120 on which you are claiming the credit Note: Insurance Form F 1120 reporting its own income and the income of the Form F 1122 Authorization and Consent of Subsidiary Form F 1156Z for the taxable year Form F 1156Z Taxpayers claiming the credit must include the Form F 851) 1122 1125 A 4626 Schedule D Schedule M 3 and form whenever possible Forms formula established in s 220 807 F S For information on current forward any unused credit for a period not to exceed five (5) years fraction for the taxable year(s) apportioned excess contribution to be franchise tax if any depreciable assets were placed in service Franchise Tax Return and Application for Extension of Franchise Tax Return and Application for Extension of Time to File Franchise Tax Return? Franchise Tax) and F 7004 (Florida Tentative Income/ Fraudulent Return The penalty for filing a false or fraudulent from installment sale agreements originally executed by a from Schedule IV Line 9 Column (a) from Schedule R Line 3 See Instructions for Schedule R (page 14) from the Low Income Housing Administrator at 850 488 4197 from the operation as a financial organization within Florida from your federal consolidated return funding credit earned with contributions made during the current Funding Organizations further information about when a Florida corporation may apportion General Information Generally corporations should enter the amount shown on Line 30 Generally Florida Form F 1120 is due the later of: Generally the Florida consolidated group must be identical to given effect under Chapter 220 F S retroactively to the Go to our website for Florida Form F 1120X with instructions Go to: www myflorida com/dor/list goodwill owned and used in the business The term financial greater of $300 or 10 percent of the tax finally determined to be gross income in the computation of taxable income for the Guaranty Association (FLAHIGA) Assessment Credit included on had been filed The separate corporation must compute its federal has an online application for corporate income tax Health Maintenance Organization Consumer Assistance Plan for holiday the return is considered to be filed on time if postmarked holidays at 800 352 3671 However if a member insurer ceases doing business all uncredited However if the principal source of premiums written by an ID and password Advantages to enrolling are: identification number and amount of capital investment tax credit identifying the amount of tax and the state to which it was paid and If a consolidated Florida corporate income/franchise tax return is If a corporation is a member of an affiliated group that filed a If substantial fluctuations in the values of the property exist during If the due date falls on a Saturday Sunday or federal or state if the federal return is due on May 15 the related Florida Form if the sale of the property is in Florida If the taxable year is less than 12 months the $50 000 exemption If the taxpayer is doing business outside Florida complete If the taxpayer s business is also conducted outside Florida If the taxpayer s business is conducted entirely within Florida enter If the taxpayer s business is entirely within Florida enter the amount If the taxpayer s business is entirely within Florida enter zero (0) If If you are claiming a transferred capital investment tax credit per If you are doing business outside Florida you must enter zero (0) If you are doing business outside Florida you must enter zero (0) on If you are requesting a refund (Line 19) send your return to: If you change your business name location If you conduct all of your business in Florida you must enter If you conduct all of your business in Florida you must enter the If you did not pay federal AMT for the related federal taxable year you If you do not have an FEIN obtain one from the Internal Revenue If you expect the amount of your income tax liability for the year to If you filed Florida Form F 7004 enter the tentative tax paid on If you have underpaid estimated tax you may compute penalty and if you paid $20 000 or more in tax during the State of Florida s If you underpay estimated tax penalty and interest apply (see If you use commercial software to prepare and file your paper return: III A Line 1 Average Value of Property III A Line 2 Payroll III A Line 3 Sales Factor III A Line 4 Apportionment Fraction III D Special Apportionment Fractions in a state other than Florida See Rule 12C 1 015 F A C for in any state in which some part of the service is performed In Column (d) use the appropriate weight for each factor See in Florida in Florida and the denominator is direct premiums written on in s 861(a)(2)(A) IRC not including withholding taxes in Schedule V in the order they must be applied The Florida Life in the current year or in the property factor The property factor used by a financial Inc at 850 298 6620 A taxpayer that takes this credit against incidental to the employee s service or Include the Florida net operating loss carryover deduction available included in Column (a) by the amount of the depreciation included in Schedule M 1 of the federal return including properly filed extensions including subsequent additions to the group even if the parent Income income income (2[a] 2[b]) Include copies of all IRS forms schedules and income (AMTI) The computation of the Florida AMTI is similar to income (usually 60 percent) including interest on private activity income for the taxes taken as a federal tax credit income from tangible and intangible property if the acquisition income in Column (b) Taxpayers not required to compute Florida income is greater than $2 500 a declaration is required income or existing in Florida income or subtracted pursuant to s 220 13(1)(b)2 F S See income plus nonbusiness income allocated to Florida (Line 7 plus Income Tax (Florida Form F 1156Z) Enter the amount from Florida income tax purposes is not required to file a separate Florida income tax purposes must file a Florida Partnership Information income tax purposes The subtraction may not exceed Income Tax Return income tax return income tax return as part of the federal General Business Credit income tax you must also change the taxable year or method of income to the extent not deductible in determining federal taxable income under s 103(a) IRC or any other federal law less the income under s 265 IRC or any other law These items will be income under s 78 IRC on Line 1(a) Enter dividends treated as Income/Franchise Tax Income/Franchise Tax Affiliations Schedule) must be attached income/franchise tax liability Income/Franchise Tax Return and Application for Extension of Time Income/Loss Income/Loss (a) x (b) Income/Loss (c + d) Incomplete Return For an incomplete return the penalty is the indicate a taxpayer is doing business in a state other than Florida indicate that zero should be entered if the actual amount is less indicating the type and amount of any allowable credit industrial bank land bank safe deposit company private banker information information as applicable: Information forms and tutorials are available on our website: www myflorida com/dor initially applied at an office located in Florida Installment of Florida Estimated Income/Franchise Tax to declare INSTRUCTIONS Instructions (page 4) instructions for Line 21 Instructions for preparing Florida Form F 1120 for taxable years beginning instructions for Schedule VI; and see the various carryover instructions on page 4 Any available tax credits itemized in instructions on page 5 Insurance Companies Insurance companies apportion adjusted federal income to Insurance companies may only claim this credit against their insurance company consists of premiums for reinsurance accepted insurance premium tax due under s 624 509 F S Interest interest on underpayments interest rate on January 1 and July 1 of each year by using the interest using Florida Form F 2220 and enter the amounts on Lines Internal Revenue Code of 1954 as amended and in effect on into the participation is located in Florida investment requirements and are certified by the Department involved IRC (excess contributions to qualified stock bonus or profit sharing IRC Enter the amount of income previously required to be IRC for assets placed in service during the 2009 through 2014 IRC for the same research expenses The Department of Revenue is allowed to a controlled group of corporations For any Florida is available on the Department of Revenue's website is in another state or states for the entire taxable year and the is limited to the amount of regular tax that is due over the amount of is limited to the lesser of $50 000 or the Florida portion of adjusted is necessary unless the corporation made an election under is subject to the Florida Income Tax Code and: is the revenue miles everywhere it is not considered to be doing business outside Florida its gross income or loss for its taxable year ending in January 1 1980 and before January 1 1982 became effective on January 1 1980 is in effect indefinitely Taxpayers who made January 1 1982 Taxpayers who made Election A are required to January 1 1987 were subject to the Emergency Excise Tax (EET) June 30 2016 Any unused amount of an allocated credit may be Late Filed Return The penalty for a return filed late is 10 percent letter received from the Department of Revenue certifying the amount liability exceeds $2 500 Complete the worksheet to determine if limitation amount of excess contributions Florida apportionment Line 1 Column (a) Apportionable Adjusted Federal Income Line 1 Column (a) Likewise add Lines 6b and 7b and enter Line 1 Column (b) Apportionable Adjusted Federal Income Line 1 Column (c) and on Schedule IV Line 2 Line 1 Federal Alternative Minimum Taxable Income (AMTI) after Line 1 Federal Taxable Income Line 1 Florida Health Maintenance Organization Consumer Line 1 Gross Foreign Source Income Less Attributable Line 1 Interest Excluded from Federal Taxable Income Line 1 Nonbusiness Income (Loss) Allocated to Florida Line 10 Florida Alternative Minimum Tax (AMT) Credit Line 10 Florida Net Income Line 10 Rural and/or Urban High Crime Area Job Tax Credits Line 10 s 168(k) IRC Special Bonus Depreciation Line 11 and cannot create a refund Line 11 Contaminated Site Rehabilitation Tax Credit Line 11 Other Subtractions Line 11 State Housing Tax Credit Line 11 Tax Due Line 12 Credit for Contributions to Nonprofit Scholarship Line 12 Credits Against the Tax Line 12 State Housing Tax Credit Line 13 Credit for Contributions to Nonprofit Scholarship Line 13 Renewable Energy Tax Credits Line 13 Total Corporate Income/Franchise Tax Due Line 14 New Markets Tax Credit Line 14 Penalty and Interest Line 14 Renewable Energy Technologies Investment Tax Credit Line 15 Entertainment Industry Tax Credit Line 15 Florida Renewable Energy Production Tax Credit Line 15 Total of Lines 13 and 14 Line 16 Credits for Spaceflight Projects Line 16 New Markets Tax Credit Line 16 Payment Credits Line 16(b) Add the estimated tax payments and the tentative tax Line 17 Entertainment Industry Tax Credit Line 17 Research and Development Tax Credit Line 17 Total Amount Due Line 18 Credit Line 18 Credits for Spaceflight Projects Line 18 Energy Economic Zone Tax Credit Line 19 Other Additions Line 19 Refund Line 19 Research and Development Tax Credit Line 2 Capital Investment Tax Credit Line 2 Column (a) Florida Apportionment Fraction Line 2 Column (b) Florida Apportionment Fraction Line 2 Column (c) and on Schedule IV Line 2 Line 2 Florida Exemption $50 000 Line 2 Gross Subpart F Income Less Attributable Expenses Line 2 Nonbusiness Income (Loss) Allocated Elsewhere Line 2 State Income Taxes Deducted in Computing Federal Line 2 Undistributed Net Long Term Capital Gains Line 20 Energy Economic Zone Tax Credit Line 21 Other Credits Line 22 Total Credits Against the Tax Line 29(a) of the federal Form 1120 or on the corresponding line of Line 3 Additions to Federal Taxable Income Line 3 Enterprise Zone Jobs Credit Line 3 Florida Net Operating Loss Carryover Deduction Line 3 Net Operating Loss Deduction Line 3 Total Nonbusiness Income Line 4 Column (a) Net Operating Loss Carryover Apportioned Line 4 Community Contribution Tax Credit Line 4 Florida Net Capital Loss Carryover Deduction Line 4 Net Capital Loss Carryover Line 4 or Schedule III D Column (c) Line 4 Total of Lines 1 2 and 3 Line 5 and the Florida employee benefit plan contribution carryover Line 5 Column (a) Net Capital Loss Carryover Apportioned to Line 5 Enterprise Zone Property Tax Credit Line 5 Excess Charitable Contribution Carryover Line 5 Florida Excess Charitable Contribution Carryover Line 5 Subtractions from Federal Taxable Income Line 6 Adjusted Federal Income Line 6 and the Florida portion of your excess employee benefit plan Line 6 Column (a) Excess Charitable Contribution Carryover Line 6 Employee Benefit Plan Contribution Carryover Line 6 Florida Employee Benefit Plan Contribution Carryover Line 6 Rural Job Tax Credit and Line 7 Urban High Crime Line 7 Column (a) Employee Benefit Plan Contribution Line 7 Enterprise Zone Jobs Credit Line 7 Florida Portion of Adjusted Federal Income Line 7 Nonbusiness Income Line 8 Ad Valorem Taxes Allowable as an Enterprise Zone Line 8 Column (a) Total Carryovers Apportioned to Florida Line 8 Column (b) Total Carryovers Apportioned to Florida Line 8 Eligible Net Income of an International Banking Facility Line 8 Emergency Excise Tax (EET) Credit Line 8 is zero or less enter zero (0) Line 8 Nonbusiness Income Allocated to Florida Line 8) If members of the controlled group file separate returns Line 9 Line 9 Column (a) Adjusted Federal Income Apportioned to Line 9 Column (b) Adjusted Federal Income Apportioned to Line 9 Florida Exemption Line 9 Guaranty Association Assessment(s) Credit Line 9 Hazardous Waste Facility Tax Credit Line 9 s 179 IRC Expense Line by Line Instructions for Lines 1 through 4 of this schedule enter the beginning of year and Lines 4 through 7 Column (b) Net Operating Loss and Other loan company sales finance company or investment company loans secured by mortgages deeds of trust or other liens located in Florida loss apportionment fraction for the taxable year in which the loss mailing originals to the Department of maintained is in Florida make a depreciation adjustment in computing the corporate income/ make a valid election pursuant to s 220 03(5)(b) F S or Make check payable to and send with return to: Make your estimated tax payments in four equal installments Making only sales in another state without property or payroll in that management and disposition of the property constitute integral may be due If you file federal Form 1120 H (U S Income Tax may be transferred) MeF federal/state electronic filing program or online Go to the member of a partnership or joint venture that does business in member of the affiliated group members in a Florida partnership or joint venture A Florida members Include FEIN address and apportioned amount of the Members of a Controlled Group Only one $50 000 exemption Minimum Tax (AMT) Minimum Tax) must complete Column (b) Minimum Taxable Income (AMTI) The NOLD carryover will be modifications decrease the taxpayer s distributive share of modifications increase the taxpayer s distributive share of modifications Such modifications include Florida additions and more information see Rule 12C 1 034(8) F A C titled Special mortgages deeds of trust or other liens upon real or tangible Multiply the short year s income by 12 and divide the result by the must allocate this credit before it can be taken Attach federal Forms must be attached to your return must be prorated Multiply $50 000 by the number of days in the net capital gain for the taxable year computed pursuant to net positive or negative (using a negative sign) adjustment NOL Carry Forward NOL Carry Forward to Next Year NOLCO Applied NOLCO Applied (Schedule II) Nonbusiness income is not subject to apportionment but is allocated Nonbusiness income means rents and royalties from real or tangible nonprofit scholarship funding organization to your Florida Form nonprofit scholarship funding organizations (s 220 1875 F S ) and not complete Schedule R not have been subject to federal AMT if a separate federal return not send reminder notices for estimated tax installments Do not Note: A late filed return will subject a corporation to penalty Note: Credits against the tax may not exceed the corporate Note: If the amount reported in Schedule III A Column (b) Note: Insurance companies using this apportionment fraction Note: Taxpayers claiming the credit must include the amount Note: Taxpayers claiming these credits must include the amounts Note: Taxpayers doing business outside Florida enter zero (0) Note: Taxpayers must include the amount claimed for the current Note: Taxpayers must include the amount claimed for the current Note: Taxpayers must include the amount of any credit claimed Note: Taxpayers must include the amount of any credit claimed for Note: Taxpayers must include the amount of any credit claimed for Note: Taxpayers must include the amount of any credit claimed for Note: Taxpayers must include the amount of any credit claimed for Note: Taxpayers required to complete Schedule VI (Alternative Note: Taxpayers required to complete Schedule VI (Computation Note: Taxpayers that conduct business entirely within Florida need Note: The amounts entered in Schedule VI are not reduced by any Note: The installment amounts that must be paid to meet the prior Note: You must attach a list to Florida Form F 1120 identifying the number of months in the short period If the tax due based on this numerator is the revenue miles within Florida and the denominator occurred and occurred and amounts of the carryover(s) previously deducted occurring everywhere We weight the apportionment factors as of $250 000 for tax years beginning in 2010 Attach a schedule of a voluntary cleanup of a contaminated site Any corporation of any refunds received of Contribution for each assessment claimed as a credit of each payment of Economic Opportunity Attach a copy of the Department of of Eligibility for Corporate Income Tax of estimated tax is required complete the Estimated Tax Worksheet of federal Form 1120 or the corresponding line (taxable income) of of Florida Alternative Minimum Tax) must complete Column (b) of Florida Form F 1120 (Line 12) of Governors of the State University System or the university of regular Florida corporate income/franchise tax and the amount of of rented property on Line 7 Add Lines 6a and 7a and enter the of Revenue or the Department of Agriculture and Consumer of Revenue s website For transferred credits a copy of the letter of State Corporate Information at 850 245 6052 or visit the website of tentative tax is 12 percent per year during the extension period of the credit transferred (only credits relating to solar energy projects of the entertainment industry financial incentive program The of the original addition and the amount of the subtraction including of the qualifying business affiliated group or a related entity that is of the tax period or disposed of property before the end of the tax of the tax year For example for a taxpayer with a tax year that of this credit refer to Florida Form F 1193T Notice of Intent to of your excess charitable contribution carryover on Schedule IV of your return and schedules before on assets placed in service between January 1 1981 and on either Schedule II or IV including that portion that reduces on Florida Form F 1065 on Line 19 of this schedule On Line 16(a) enter the total estimated tax payments if any made on Line 2(b) Subtract the attributable expenses from the subpart F on Line 21 You may find the instructions for the credit with the on Lines 3 4 5 and 6 and complete Lines 4 5 6 7 and 8 of on or after January 1 1987 should check General Rule See on or after January 1 2015 on page 15 on page 4 on page 6 of the Florida Form F 1120 on Schedule II Line 4 and the Florida portion of net capital loss on Schedule II Line 6 on Schedule II Lines 5 and 6 You must enter the Florida portion On Schedule VI Line 7 enter the amount from Schedule IV Line 9 on Schedule VI Line 8 on the next business day on the pro forma 4626 should be the actual amounts computed as on the underpaid amount You must calculate the penalty from the on your attached list Attaching the list shows consent to an one of these credits against sales and use tax is not eligible to take one time in increments of 25% or more Refer to Florida Form online application for corporate income tax payments and filing operating loss deduction (NOLD) for AMT purposes or limit the operations or place from which the service is controlled is not or accrued for the taxable year other than that shown on federal or contribute to the operations of the taxpayer s economic enterprise or exceeds the cumulative amount due if the installments were or indirectly by a corporation The corporation must file Florida or its agent to sell real or tangible personal property located or mailing address or close or sell your or other entity should be computed in the same manner or rented and used during the taxable year in Florida The or soil site evaluations and permit fees and (b) five percent of the or the Department of Agriculture and Consumer Services must be or upon filing the taxpayer s first return after December 20 organization includes any bank trust company savings bank organization intangible personal property will not be included organization must include intangible personal property except original due date of the return other entity not taxable as a corporation it must include in its other federal income tax forms other fiduciary must sign any return filed on behalf of the entity outside Florida but the service performed outside Florida is overpayment to the next year s estimated tax is irrevocable For ownership of the single member LLC package this year page of Florida Form F 1120 Note: The election to apply an page of your Florida Form F 1120 or your account may not be paid $20 000 or more in tax during the State of paid (Line 16(a) plus Line 16(b)) Enter that sum on Line 16 Attach paid for the sponsored research paid to employees everywhere during the taxable year Enter part of a federal consolidated return Enter the name and FEIN partnership income or loss included in its federal income tax partnership income or loss is based on the federal ordinary partnership income or loss with certain modifications partnership is a partnership doing business earning income or parts of the taxpayer s regular trade or business operations or any payable to the Florida Department of Revenue If tax was overpaid payment payment date or due date for filing the annual tax return without Payment of Tax payments and filing Florida forms F 1120A (Florida payroll and property factors Penalties Penalty and interest on an underpayment of estimated tax are per month or fraction thereof not to exceed 50 percent of the tax percent to sales percentage for the other factor will be 33 1/3 percent and the period not to exceed five (5) years period the Department may require or allow monthly averaging of period you must annualize your net income for the short period personal property personal property and includes: personal property capital gains interest dividends and patent and personal property located in Florida certified as dedicated pertains to Florida business activities If the Principal Business photocopy facsimile or stamp A receiver trustee assignee or places) plans) and carried forward and deducted in computing federal please refer to the instructions for Lines 18 and 19 pledged to secure public funds or trust funds deposited with PO Box 6440 portion of adjusted federal income plus nonbusiness income portion of an overpayment as an estimated tax payment Also premiums written as the total amount of direct premiums written president to the return Also the taxpayer must include the previously deducted prior fiscal year (July 1 June 30) The Department also has an professional or doctoral level This exclusion applies only during Program administered by the Department of Economic Opportunity program is administered by the Office of Film and Entertainment project You must attach a pro forma tax return indicating the projection of tax liability Circumstances may develop during the properly credited properties and risks everywhere Florida defines the term direct property property is in Florida property located outside Florida Property owned is valued at original cost without regard to Property Tax Credit property to be in Florida if it consists of any of the following: property values If monthly averages are used you must attach Protection Additional information can be obtained by contacting the Publication (TIP) #15C01 04 for more purposes must file a Florida corporate income tax return qualified investment under the Florida New Markets Development qualified research expenses in Florida for taxpayers that also claim qualifying project s Florida taxable income for the year to claim this Question A Enter the state in which you are incorporated Question B Enter the Florida document number received from the Question C Check the appropriate box to indicate if you are filing Question D Check the Initial return box if the return is the initial Question E Check the Depreciation election (General Rule Question F Enter the Principal Business Activity Code that Question G Check the appropriate box to indicate if you have Question H 1 Florida allows only one $50 000 exemption to a Question H 2 Check the appropriate box to indicate if you are Question H 3 Check the appropriate box to indicate if the federal Question I Enter the address where the corporate books and Question J Check the appropriate box to indicate if you are a Question K Provide the date of your latest IRS audit and list the Question L Please provide the name a telephone number and Question M Indicate the form number of the return filed with the Questions A through M R 01/16 rate by the annual rental rate received from sub rentals receipts or income taxes paid to cities or counties Prepare a list received from sources outside the United States as determined received from the Department of Revenue certifying the amount of records are located reduced by the amount actually used as a deduction from the regular regard to any extension of time No penalty or interest will apply if regular NOLD available against regular taxable income or Alternative related dividends are presumed to be business income reported on Line 6 on this line requesting to transfer Required Attachments requires the filing of a consolidated return for all subsequent years respect to estimated tax This includes the determination of whether respectively See also Penalties and Interest on page 3 Return (Florida Form F 1065) if one or more of its owners is return an appropriate subtraction as determined on Florida return and either file your return or extension of time by the original return and payment use an original return Any unused credit may be carried forward for a period not return filed Return for each affiliated member Attach the form to the return for Florida This is true even if the individual corporation would Return for Homeowners Associations) you are not required to return in the computation of federal taxable income Include the return is 100 percent of the deficiency return is limited to an affiliated group where the parent corporation return must be identical to the affiliated group filing the Return To obtain Florida Form F 7004 see "Contact Us" on page 15 return you must enter an appropriate addition as determined returns An original signature is required We will not accept a returns go to the Department s website at: Revenue Revenue Code (IRC) See Tax Information revised estimate differs materially from the original estimate file an Round the result to six decimal places Enter the result in Rounding Off to Whole Dollar Amounts Rule 12C 1 051 Rules Relating to Estimated Tax s 172 IRC The Florida carryover to future tax years is limited s 220 03(5)(c) F S for taxable years beginning prior to s 220 13(1)(a)6 F S s 220 13(1)(e)3 F S s 220 131(1) F S within 90 days of December 20 1984 s 220 191(2)(c) F S you must attach to your return a copy of the S corporation from the IRS if the document has not been sent to S corporations should enter only the amount of income subject to sales factors) except for insurance companies transportation sales in Florida to total property payroll and sales located or Sales will be attributable to Florida using the following criteria: same extent and for the same time periods prescribed in Save Time and Paperwork with Electronic savings and loan association credit union cooperative bank small schedule and line numbers Schedule I Additions and/or Adjustments to Schedule II Line 3 Schedule II Line 3 and the amount of the NOLD on Schedule IV Line 4 Schedule II Subtractions from Federal Taxable Schedule III A Line 1 Column (b) Schedule III Apportionment of Adjusted Federal Schedule IV Schedule IV Computation of Florida Portion of schedule of items as certified by the university excluded from the Schedule R Nonbusiness Income schedule showing the computation of federal taxable income Schedule V Credits Against the Corporate Schedule V Line 21 Schedule V should be used against the amount of AMT due Schedule V This is the amount taken as a credit for contributions Schedule V This is the amount taken as the state housing tax Schedule V This is the amount taken for the new markets tax Schedule VI Computation of Florida Alternative Schedule VI Line 6 Schedules III and IV and enter the adjusted federal income amount Schedules on page 15 schedules To round off dollar amounts drop amounts less than 50 Section 220 02(8) F S provides for an order of application for Section 220 14 F S exempts up to $50 000 of Florida net income securities managed within Florida Security and Medicare taxes paid on certain employee tip income See Examples of Florida Net Operating Loss Carry Forward See Rule 12C 1 015 F A C for further information about when a see s 220 131 F S and Rule 12C 1 0131 F A C See the Florida Excess Contribution Carryover Deductions See the Florida Net Capital Loss Carryover Deduction instructions See the Florida Net Operating Loss Carryover Deduction (NOLD) separate return for Florida the amount shown on Line 1 of the September 30 and December 31 To obtain Florida Form service is directed or controlled is in Florida or the base of Service You can: services are performed in Florida services rendered within Florida Services to your tax return showing the allocation of the credit short period is less than four months or the requirement is first met short tax year divided by 365 Short Taxable Years should attach a copy of Schedule T from their annual report should be added to the difference computed under Election should enter is the: should enter the amount of nonbusiness income allocated to Florida showing the year and amount of the original addition and the shown on Schedule II Line 12 Column (a) Signature and Verification single member LLC even if the only activity of the corporation is situs elsewhere software that develops paper tax forms Ask the vendor software vendors spaceflight businesses that meet specified job creation and Special Instructions specified in s 220 13(1)(b)5 F S Sponsored Research and Development Contracts through a ss 220 63(5) and 220 62(3) F S for a detailed explanation of the ss 78 862 and 951 IRC and any other income not included in ss 852(b)(3)(D) and 857(b)(3)(D) IRC state does not automatically indicate a taxpayer is doing business State Electronic Filing Program You must file and pay electronically state or country to which the nonbusiness income is allocated and state without property or payroll in that state does not automatically statement setting forth the details of the adjustment Statute (F S ) Sub S corporations must include the Notice of Acceptance as an subject to Florida corporate income tax and must file either submit an application to the Florida Housing Finance Corporation Subscribe to our tax publications to receive due date reminders or an email when we post: subsequent tax years and treated in the same manner to the same subsequent taxable years and treated in the same manner to the subsequent year An unused credit cannot be carried forward more subsequently is not subject to Florida tax For more information Subtract Line 12 from Line 11 Subtract Line 5 from Line 4 and enter the difference Subtract Line 8 Column (a) from Line 3 Column (a) and enter the Subtract Line 8 Column (b) from Line 3 Column (b) and enter the Subtract Line 9 from the sum of Lines 7 and 8 and enter the Subtract the amount on Line 16 from Line 15 and enter the amount subtracted as an adjustment to compute adjusted federal income subtractions apportionment and the Florida exemption subtractions claimed in earlier years supporting schedules if requested in these instructions Tallahassee FL 32314 6440 Tallahassee FL 32399 0112 Tallahassee FL 32399 0135 tangible personal property tangible personal property will be included in Florida sales tax complete Florida Form F 2220 Underpayment of Estimated Tax tax for the taxable year Use Florida Form F 1120ES Declaration/ tax must file Florida Form F 1120 unless qualified to file Florida tax purposes nor is there a provision for a subtraction from federal tax return (Florida Form F 1120) electronically through tax year tax year beginning in 2009 and 2011 through 2014; and in excess tax) on or before the original due date of Florida Form F 1120 An taxable as a cooperative under subchapter T of the Internal Revenue Taxable Income Taxable Income taxable income for the taxable year taxable income shown on Schedule I Line 20 Column (a) taxable year Taxable Year and Accounting Methods taxable year as an estimated tax payment You may apply any taxable year on Schedule I Line 16 taxable year on Schedule I Line 17 taxable year per s 220 13(1)(a)6 F S taxable year which results from a change in annual accounting taxable year; or taxpayer is a member of a controlled group attach a list of the taxpayer is taxable in such other state or states taxpayer may apply for approval to carry forward the credit in a taxpayer or its agent to sell real or tangible personal property taxpayer s business Taxpayer Services MS 3 2000 taxpayer who is a member of a controlled group the manner in taxpayers engaged exclusively in interstate commerce Taxpayers furnishing transportation services will use a single Taxpayers may not subtract from federal taxable income for Social Taxpayers required to compute Florida alternative minimum tax than five (5) years than zero The actual amount should be reflected for purposes of that has ceased doing business in Florida is not a final return that is deductible for the taxable year on Schedule I Line 19 per that must be met for your request for an extension of time to be that wishes to obtain this credit must submit with its return a tax the adjusted federal income (Florida Form F 1120 Line 6) must be the amount deducted for income taxes paid to the District of The amount of AMT credit that may be taken in a subsequent tax year the amount of nonbusiness income the amount of nonbusiness income allocated to Florida on this line the amount of s 108(i) IRC income added back under the amount of the assessment for each year following the year in The amount of the exemption is the lesser of $50 000 or the Florida the amount reported in Schedule III A Column (b) for the sales the amount reported on Schedule VI Line 6 on this line also the average value of real and tangible personal property owned the business is outside Florida see the instructions for Schedule R the certification approving the credit to the return The certification from the Florida Energy and Climate Commission the computation of the regular Florida taxable income The primary the consolidated subsidiary filing separately in Florida had also the contractual period and the tax savings is limited to the amount the contribution The amount of the community contribution credit The credit is based upon additional electricity produced and sold the credits against corporate income tax The credits are listed the cumulative amount paid or credited for each installment equals the current year on Schedule I Line 12 the current year on Schedule I Line 13 the current year on Schedule I Line 14 the current year on Schedule I Line 15 the current year on Schedule I Line 18 the current year on Schedule I Line 9 the Department The Department of Revenue must approve this credit before it can the Department properly records your the Department s website and follow the links the depreciation deducted as shown on federal Form 4562 for The difference in the depreciation for the partnership trust the direct premiums written plus premiums written for reinsurance the everywhere average on Line 8b of Schedule III B and on The excess contribution deductions may not create or increase the federal AMTI after the exemption The federal form instructions the federal consolidated group Also see Consolidated Returns The filing of a Florida consolidated tax return for any taxable year The Florida Income Tax Code does not create a separate net the Florida net operating loss carryover deduction available on The Florida net operating loss carryover deduction is limited the Florida renewable energy production tax credit (s 220 193 F S ) The Florida subtraction for net capital loss carryovers is limited to the following criteria: the front page of Florida Form F 1120 If Line 19 is left blank we The General Rule refers to s 220 03(5)(a) F S Pursuant to The intangible personal property will be valued at its tax basis for the Internal Revenue Service (IRS) the Internal Revenue Service s (IRS) Modernized e File the net annual rental rate You must reduce the net annual rental the note on page 9 for more detailed information Multiply the the numerator in Schedule III A Line 2 Column (a) Enter the the owner s return if the single member LLC is owned directly The payroll factor excludes compensation paid to a Florida The payroll factor is a fraction The numerator of this fraction is the portion of the carry forward apportioned to Florida using the The privilege of electing to file a Florida consolidated income tax The property factor is a fraction The numerator of this fraction is the property is delivered or shipped to a purchaser within The quickest way to notify us is online Go to the related federal income tax return the return Enter the taxpayer s name and FEIN on all sheets exactly as the return is not filed electronically The penalty cannot exceed The sales factor is a fraction The numerator of this fraction is the The same assessment amount may not be offset by an insurer against the same credit against Florida corporate income tax You may carry the tax period or where you acquired property after the beginning the tax preference addition the tax shown on Florida Form F 1120 when filed the taxable income shown on Line 30 of the related federal the taxable year The taxable year and method of accounting must be the same for the taxable year that is allowable as an enterprise zone property tax the taxable year Use Schedule III C to calculate the sales factor the taxpayer if the office where the secured deposits are The taxpayer must attach a statement listing all compensation paid The term taxpayers furnishing transportation services includes The three factor formula measures Florida s share of adjusted The total amount of assessment that can be claimed as a credit is net the total amount paid to employees in Florida during the taxable their corporate income tax liability Therefore the FLAHIGA credit is to be included in the other credits these assets and the depreciation allowable for these assets they appear on the front page of Florida Form F 1120 this factor compensation is paid within Florida if: This is the amount taken as credits for spaceflight projects for the This is the amount taken as the entertainment industry tax credit for This is the amount taken as the research and development tax credit this line You may carry forward any unused credit for a period not to this section all amendments to the Internal Revenue Code of This will be the amount of enterprise zone jobs credit on Florida This will be the portion of the ad valorem taxes paid or incurred for those listed in s 220 13(1)(e) F S may increase the amount of the three factor formula (average value of property payroll and through an audit adjustment) and Time to File Return) to 99 cents to the next highest dollar If you use this method on the to a prior taxable year A net capital loss must be carried over to to a prior taxable year A net operating loss must be carried over to To Amend a Return to any corporation that derived less than 20 percent of To apply for an extension of time for filing Florida Form F 1120 to apportion their business income to Florida based upon a To compute the Florida apportionment fraction add the weighted to compute the Florida portion of adjusted federal income Florida to exceed five (5) years to File Return Go to the Department s website for more information To find a taxpayer service center near you go to: www myflorida com/dor/contact html to Florida to generate business income To learn more about this credit or to submit your application go to To learn more about transfers of this credit refer to Florida Form to Next Year to nonprofit scholarship funding organizations for the taxable year To pay estimated tax go to the Department s website to report and pay the corporate income/franchise tax as if the to returns or allowances The term sales is not limited to tangible To speak with a Department representative call Taxpayer Services 8 a m to 7 p m ET Monday through Friday excluding To support a deduction attach a schedule showing the following To support a deduction you must attach a schedule showing how To support a deduction you must attach a schedule showing how To support a deduction you must attach a schedule showing how to the amount of the federal net operating loss multiplied by the to the portion of the carryover apportioned to Florida using the to Transfer a Tax Credit For transferred credits a copy of the letter total of expenses directly and indirectly attributable to s 951 IRC total on Schedule III A Line 4 and on Schedule IV Line 2 total sales of the taxpayer in Florida during the taxable year The Transfer Florida Energy Tax Credit available on the Department transportation of one passenger or one net ton of freight the Transportation service companies u Estimated tax p 4 u Form ordering instructions p 15 u Line by line instructions p 5 u Special instructions p 4 u When to file and pay p 2 u Who must file p 2 ultimately included in the ACE adjustment under s 862 IRC on Line 1(b) Enter the total of expenses directly under the Internal Revenue Code of 1954 as amended and in Underpayment of Estimated Tax The penalty for underpayment of Underpayment of Tentative Tax The penalty for underpayment Underpayments of Estimated Tax unequal apportionment of the Florida exemption University unless such securities have acquired a discrete business unused credit cannot be carried forward more than five (5) years unused credit for a period of five (5) years upon real or tangible personal property located in Florida upon real or tangible personal property located in Florida or urban high crime area job tax credits for the taxable year Use the instructions on page 5 for completing Florida Form F 1120 using a different method under s 220 152 F S Using Payment Credits Using Software to Prepare Your Return V This is the amount of the energy economic zone tax credit taken valid violating the due process clause of the U S Constitution In general Visit their website at http://www filminflorida com/ Attach a wastes pursuant to s 220 184 F S Any unused credit may be We encourage you to enroll for e Services When you We number Instructions to correspond with the appropriate weighted percentage for the sales factor will be 66 2/3 percent If What s Inside When a corporation makes payment using payment credits from When is Florida Form F 1120 Due? when such taxes are taken as a credit on their federal corporate When you file a Florida consolidated return the amount that you where the taxpayer s commercial domicile is in Florida Where to Send Payments and Returns whether or not tax is due which the assessment was paid which the members allocate the $50 000 exemption for purposes of whichever is greater See instructions for Schedule VI Who is Eligible to File Florida Form F 1120A? Who Must File a Florida Corporate Income/ Who Must Make Estimated Tax Payments? Whole dollar amounts may be entered on the return and accompanying will credit the entire overpayment to next year s estimated tax will include the positive or negative difference if any between will not have to pay AMT to Florida wishes to participate in the State Housing Tax Credit Program must with an investment in renewable energy technologies Any unused without deducting any costs for carrying such accounts worksheets associated with IRS Form 5471 www myflorida com/dor www myflorida com/dor select "Information for www myflorida com/dor/taxes/pdf/CIT due dates pdf year exception are decreased by the amount of the scholarship year for compensation The denominator is the total compensation year go to the Department s website at: year on Schedule I Line 11 year that warrant a revision of the original estimated tax If the year you will not receive a corporate income tax return years years examined You are able to file and pay your Florida corporate income tax return you are requesting to transfer You can file and pay your Florida corporate income You can file Florida Form F 7004 electronically through the IRS you computed the deduction See the Florida Net Operating Loss you computed the deduction You must include the year(s) of you computed the deduction You must include the year(s) of federal you computed the deduction: You may not carry back a Florida net capital loss as a deduction You may not carry back a Florida net operating loss as a deduction You may request a refund of any portion of an overpayment You may transfer this credit to members of the same affiliated group You may transfer this tax credit To learn more about transfers You may use additional sheets if the lines on Florida Form F 1120 or on You must also attach copies of federal Forms 4562 851 (or Florida You must base your declaration of estimated tax upon a reasonable You must complete a Florida Form F 1120X to amend your Florida you must complete Florida Form F 7004 Florida Tentative Income/ You must file a return even if no tax is due You must file a separate declaration (Florida Form F 1120ES) when You must file and pay electronically if you You must file Florida Form F 7004 and pay all the tax due (tentative You must file Florida Form F 7004 to extend your time to file A You must make estimated payments if your corporate income tax You must pay the amount of tax due as shown on Line 17 of the your taxable year or your method of accounting for federal zero If the business is also conducted outside Florida enter the