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Florida Florida Corporate Income/Franchise Tax Return
Extracted from PDF file 2023-florida-form-f-1120.pdf, last modified October 2023Florida Corporate Income/Franchise Tax Return
Florida Corporate Income/Franchise Tax Return F-1120 R. 01/24 Rule 12C-1.051, F.A.C. Effective 01/24 Page 1 of 6 Name Address City/State/ZIP Use black ink. Example A - Handwritten Example B - Typed 0 1 2 3 4 5 6 7 8 9 0123456789 Check here if any changes have been made to name or address For calendar year 2015 or tax year beginning _________________, 2015 ending ________________________ Year end date __________________ Computation of Florida Net Income Tax 1. Federal taxable income (see instructions). Check here Attach pages 1–6 of federal return ............................................... if negative 2. State income taxes deducted in computing federal taxable income Check here (attach schedule)............................................................................... if negative , , , , , , 1. 2. 3. Additions to federal taxable income (from Schedule I)..................... Check here if negative 3. 4. Total of Lines 1, 2, and 3................................................................... Check here if negative 4. F-1120 5. Subtractions from federal taxable income (from Schedule II)........... Check here if negative 5. 6. Adjusted federal income (Line 4 minus Line 5)................................. Check here if negative 6. / DOR use only Federal Employer Identification Number (FEIN) 7. Florida portion of adjusted federal income (see instructions)....................... Check here if negative 7. 8. Nonbusiness income allocated to Florida (from Schedule R)....................... Check here if negative 8. US Dollars , , , , , , , , 9. Florida exemption .............................................................................................................. 9. 10. Florida net income (Line 7 plus Line 8 minus Line 9)........................................................... 10. 11. Tax due: 5.5% of Line 10................................................................................................. 11. 12. Credits against the tax (from Schedule V)............................................................................ 12. 13. Total corporate income/franchise tax due (Line 11 minus Line 12)...................................... 13. , , , , , , , , , , , , , , , , , / . . . . . . . . . . . . . Payment Coupon for Florida Corporate Income Tax Return Do not detach coupon. To ensure proper credit to your account, enclose your check with tax return when mailing. YEAR ENDING M M D D Y Y Enter name and address, if not pre-addressed: F-1120 R. 01/24 If 6/30 year end, return is due 1st day of the 4th month after the close of the taxable year, otherwise return is due 1st day of the 5th month after the close of the taxable year. Total amount due from Line 17 Total credit from Line 18 Name Address City/St ZIP Cents Total refund from Line 19 , , , US DOLLARS , , , . . . CENTS FEIN F-1120 Enter FEIN if not pre-addressed 9100 0 20239999 0002005037 2 3999999999 0000 2 F-1120 R. 01/24 Page 2 of 6 14. a) Penalty: F-2220___________________ b) Other____________________ c) Interest: F-2220 __________________ d) Other____________________ Line 14 Total u , , , , , , 14. 15. Total of Lines 13 and 14........................................................................................................ 15. 16. Payment credits: Estimated tax payments 16a $ Tentative tax payment 16b $ ................ 16. 17. Total amount due: Subtract Line 16 from Line 15. If positive, enter amount due here. If the amount is negative (overpayment), enter on Line 18 and/or Line 19............................................................................................. 17. 18. Credit: Enter amount of overpayment credited to next year’s estimated tax here....................................................................................................................................... 18. 19. Refund: Enter amount of overpayment to be refunded here.............................................. 19. , , , , , , . . . . . . This return is considered incomplete unless a copy of the federal return is attached. If your return is not signed, or improperly signed and verified, it will be subject to a penalty. The statute of limitations will not start until your return is properly signed and verified. Your return must be completed in its entirety. Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and belief, it is true, correct, and complete. Declaration of preparer (other than taxpayer) is based on all information of which preparer has any knowledge. Sign here Title Signature of officer (must be an original signature) Paid preparers only Date Preparer’s signature Preparer check if selfemployed Date Firm’s name (or yours if self-employed) and address Preparer’s PTIN FEIN ZIP All Taxpayers Must Answer Questions A Through L Below — See Instructions A. State of incorporation:_______________________________________________________________ B. Florida Secretary of State document number:___________________________________________ C. Florida consolidated return? D. q Initial return q YES q NO q Final return (final federal return filed) G-2. Part of a federal consolidated return? YES q NO q If yes, provide: FEIN from federal consolidated return: ___________________________________ Name of corporation: _______________________________________________ q G-3. The federal common parent has sales, property, or payroll in Florida? YES E. Principal Business Activity Code (as pertains to Florida) H. NO q Location of corporate books:_____________________________________________________________ City: __________________________________________ State: ______________ ZIP: ________________ F. A Florida extension of time was timely filed? YES q G-1. Corporation is a member of a controlled group? YES q NO q NO q If yes, attach list. Save Time and Paperwork with Electronic Filing You can file and pay your Florida corporate income tax return (Florida Form F-1120) electronically through the Internal Revenue Service's (IRS) Modernized e-File (MeF) Program using electronic transmitters approved by the IRS and the Florida Department of Revenue. The Department also has an online application for corporate income tax payments and filing Florida forms F-1120A (Florida Corporate Short Form Income Tax Return), F-1120ES (Declaration/Installment of Florida Estimated Income/Franchise Tax), and F-7004 (Florida Tentative Income/Franchise Tax Return and Application for Extension of Time to File Return). If Filing Paper Return Where to Send Payments and Returns Make check payable to and mail with return to: Florida Department of Revenue 5050 W Tennessee Street Tallahassee FL 32399-0135 q NO q I. Taxpayer is a member of a Florida partnership or joint venture? YES J. Enter date of latest IRS audit: ______________ a) List years examined: ____________ K. Contact person concerning this return: ___________________________________________________ a) Contact person telephone number: (______ )______________________________________________ b) Contact person email address:_________________________________________________________ L. Type of federal return filed q 1120 q 1120S or __________________ If you are requesting a refund (Line 19), send your return to: Florida Department of Revenue PO Box 6440 Tallahassee FL 32314-6440 Remember: ü Make your check payable to the Florida Department of Revenue. ü ü Write your FEIN on your check. ü ü Attach a copy of your federal return. Sign your check and return. Attach a copy of your Florida Form F-7004 (extension of time) if applicable. F-1120 R. 01/24 Page 3 of 6 NAME FEIN TAXABLE YEAR ENDING Schedule I — Additions and/or Adjustments to Federal Taxable Income 1. Interest excluded from federal taxable income (see instructions) 1. 2. Undistributed net long-term capital gains (see instructions) 2. 3. Net operating loss deduction (attach schedule) 3. 4. Net capital loss carryover (attach schedule) 4. 5. Excess charitable contribution carryover (attach schedule) 5. 6. Employee benefit plan contribution carryover (attach schedule) 6. 7. Enterprise zone jobs credit (Florida Form F-1156Z) 7. 8. Ad valorem taxes allowable as an enterprise zone property tax credit (Florida Form F-1158Z) 8. 9. Guaranty association assessment(s) credit 9. 10. Rural and/or urban high-crime area job tax credits 10. 11. State housing tax credit 11. 12. Florida tax credit scholarship program credit (credit for contributions to nonprofit scholarship-funding organizations) 12. 13. New worlds reading initiative credit 13. 14. Strong families tax credit (credit for contributions to eligible charitable organizations) 14. 15. Live Local program credit 15. 16. New markets tax credit 16. 17. Entertainment industry tax credit 17. 18. Research and development tax credit 18. 19. Experiential learning tax credit program 19. 20. Credit for qualified railroad reconstruction or replacement expenditures 20. 21. Credit for manufacturing of human breast milk derived human milk fortifiers 21. 22. s.168(k), IRC, special bonus depreciation 22. 23. Depreciation of qualified improvement property (see instructions) 23. 24. Expenses for business meals provided by a restaurant (see instructions) 24. 25. Film, television, and live theatrical production expenses (see instructions) 25. 26. Other additions (attach schedule) 26. 27. Total Lines 1 through 26. Enter total on this line and on Page 1, Line 3. 27. Schedule II — Subtractions from Federal Taxable Income 1. Gross foreign source income less attributable expenses (a) Enter s. 78, IRC, income $ _________________________ (b) plus s. 862, IRC, dividends $ _________________________ (c) plus s. 951A, IRC, income $ _________________________ (d) less direct and indirect expenses and related amounts deducted under s. 250, IRC $ _________________________ 1. Total u Total u 2. Gross subpart F income less attributable expenses (a) Enter s. 951, IRC, subpart F income $ _______________________ (b) less direct and indirect expenses $ _______________________ 2. Note: Taxpayers doing business outside Florida enter zero on Lines 3 through 6, and complete Schedule IV. 3. Florida net operating loss carryover deduction (see instructions) 3. 4. Florida net capital loss carryover deduction (see instructions) 4. 5. Florida excess charitable contribution carryover (see instructions) 5. 6. Florida employee benefit plan contribution carryover (see instructions) 6. 7. Nonbusiness income (from Schedule R, Line 3) 7. 8. Eligible net income of an international banking facility (see instructions) 8. 9. s. 168(k), IRC, special bonus depreciation (see instructions) 9. 10. Depreciation of qualified improvement property (see instructions) 10. 11. Film, television, and live theatrical production expenses (see instructions) 11. 12. Other subtractions (attach schedule) 12. 13. Total Lines 1 through 12. Enter total on this line and on Page 1, Line 5. 13. F-1120 R. 01/24 Page 4 of 6 NAME FEIN TAXABLE YEAR ENDING Schedule III — Apportionment of Adjusted Federal Income III-A For use by taxpayers doing business outside Florida, except those providing insurance or transportation services. (a) (b) (c) (d) (e) WITHIN FLORIDA TOTAL EVERYWHERE Col. (a) ÷ Col. (b) Weight Weighted Factors (Numerator) (Denominator) Rounded to Six Decimal If any factor in Column (b) is zero, Rounded to Six Decimal Places see note on Page 9 of the instructions. Places 1. Property (Schedule III-B below) X 25% or ______ 2. Payroll X 25% or ______ 3. Sales (Schedule III-C below) X 50% or ______ 4. Apportionment fraction (Sum of Lines 1, 2, and 3, Column [e]). Enter here and on Schedule IV, Line 2. III-B For use in computing average value of property (use original cost). WITHIN FLORIDA a. Beginning of year b. End of year TOTAL EVERYWHERE c. Beginning of year d. End of year 1. Inventories of raw material, work in process, finished goods 2. Buildings and other depreciable assets 3. Land owned 4. Other tangible and intangible (financial org. only) assets (attach schedule) 5. Total (Lines 1 through 4) 6. Average value of property a. Add Line 5, Columns (a) and (b) and divide by 2 (for within Florida)........... 6a. b. Add Line 5, Columns (c) and (d) and divide by 2 (for total Everywhere).......................................................................................... 6b. 7. Rented property (8 times net annual rent) a. Rented property in Florida........................................................................... 7a. b. Rented property Everywhere .......................................................................................................................................................... 7b. 8. Total (Lines 6 and 7). Enter on Line 1, Schedule III-A, Columns (a) and (b). a. Enter Lines 6a. plus 7a. and also enter on Schedule III-A, Line 1, Column (a) for total average property in Florida.......................................... 8a. b. Enter Lines 6b. plus 7b. and also enter on Schedule III-A, Line 1, Column (b) for total average property Everywhere.......................................................................................................................... 8b. (a) (b)  III-C Sales Factor TOTAL WITHIN FLORIDA TOTAL EVERYWHERE (Numerator) (Denominator) N/A 1. Sales (gross receipts) N/A 2. Sales delivered or shipped to Florida purchasers 3. Other gross receipts (rents, royalties, interest, etc. when applicable) 4. TOTAL SALES (Enter on Schedule III-A, Line 3, Columns [a] and [b]) III-D Special Apportionment Fractions (see instructions) (a) WITHIN FLORIDA (b) TOTAL EVERYWHERE (c) FLORIDA Fraction ([a] ÷ [b]) Rounded to Six Decimal Places 1. Insurance companies (attach copy of Schedule T–Annual Report) 2. Transportation services Schedule IV — Computation of Florida Portion of Adjusted Federal Income 1. Apportionable adjusted federal income from Page 1, Line 6 1. 2. Florida apportionment fraction (Schedule III-A, Line 4) 2. 3. Tentative apportioned adjusted federal income (multiply Line 1 by Line 2) 3. 4. Net operating loss carryover apportioned to Florida (attach schedule; see instructions) 4. 5. Net capital loss carryover apportioned to Florida (attach schedule; see instructions) 5. 6. Excess charitable contribution carryover apportioned to Florida (attach schedule; see instructions) 6. 7. Employee benefit plan contribution carryover apportioned to Florida (attach schedule; see instructions) 7. 8. Total carryovers apportioned to Florida (add Lines 4 through 7) 8. 9. Adjusted federal income apportioned to Florida (Line 3 less Line 8; see instructions) 9. F-1120 R. 01/24 Page 5 of 6 NAME FEIN TAXABLE YEAR ENDING Schedule V — Credits Against the Corporate Income/Franchise Tax 1. Florida health maintenance organization consumer assistance assessment credit (attach assessment notice) 1. 2. Capital investment tax credit (attach certification letter) 2. 3. Enterprise zone jobs credit (from Florida Form F-1156Z attached) 3. 4. Community contribution tax credit (attach certification letter) 4. 5. Enterprise zone property tax credit (from Florida Form F-1158Z attached) 5. 6. Rural job tax credit (attach certification letter) 6. 7. Urban high-crime area job tax credit (attach certification letter) 7. 8. Hazardous waste facility tax credit 8. 9. Florida alternative minimum tax (AMT) credit 9. 10. Contaminated site rehabilitation tax credit (voluntary cleanup tax credit) (attach tax credit certificate) 10. 11. State housing tax credit (attach certification letter) 11. 12. Florida tax credit scholarship program credit (credit for contributions to nonprofit scholarship-funding organizations) (attach certificate) 12. 13. New worlds reading initiative credit (attach certificate) 13. 14. Strong families tax credit (credit for contributions to eligible charitable organizations) (attach certificate) 14. 15. 15. Live local program credit (attach certificate) 16. New markets tax credit 16. 17. Entertainment industry tax credit 17. 18. Research and development tax credit 18. 19. Experiential learning tax credit 19. 20. Credit for qualified railroad reconstruction or replacement expenditures 20. 21. Credit for manufacturing of human breast milk derived human milk fortifiers 21. 22. Other credits (attach schedule) 22. 23. Total credits against the tax (sum of Lines 1 through 22 not to exceed the amount on Page 1, Line 11). Enter total credits on Page 1, Line 12 23. Schedule R — Nonbusiness Income Line 1. Nonbusiness income (loss) allocated to Florida Type Amount _____________________________________ _____________________________________ _____________________________________ _____________________________________ _____________________________________ _____________________________________ Total allocated to Florida.................................................................................. 1. ___________________________________ (Enter here and on Page 1, Line 8) Line 2. Nonbusiness income (loss) allocated elsewhere Type State/country allocated to Amount _____________________________________ ____________________________________ _____________________________________ _____________________________________ ____________________________________ _____________________________________ _____________________________________ ____________________________________ _____________________________________ Total allocated elsewhere................................................................................. 2. ___________________________________ Line 3. Total nonbusiness income Grand total. Total of Lines 1 and 2................................................................... 3. ___________________________________ (Enter here and on Schedule II, Line 7) F-1120 R. 01/24 Page 6 of 6 NAME FEIN TAXABLE YEAR ENDING Estimated Tax Worksheet For Taxable Years Beginning On or After January 1, 2024 1. Florida income expected in taxable year .................................................................................................... 1. $ ________________ 2. Florida exemption $50,000 (Members of a controlled group, see instructions on Page 15 of Florida Form F-1120N)....................................................................................................................................... 2. $ ________________ 3. Estimated Florida net income (Line 1 less Line 2) ....................................................................................... 3. $ ________________ 4. Total Estimated Florida tax (5.5% of Line 3) .................................... $ _____________________________ Less: Credits against the tax ............................................................ $ _____________________________ 4. $ ________________ 5. Computation of installments: The payment for June 2013 is due on or before June 28, 2013. Payment due dates and If 6/30 year end, last day of 4th month, payment amounts: otherwise last day of 5th month - Enter 0.25 of Line 4................ 5a.______________________ Last day of 6th month - Enter 0.25 of Line 4 ................................ 5b.______________________ Last day of 9th month - Enter 0.25 of Line 4................................. 5c.______________________ Last day of taxable year - Enter 0.25 of Line 4............................ 5d.______________________ NOTE: If your estimated tax should change during the year, you may use the amended computation below to determine the amended amounts to be entered on the declaration (Florida Form F-1120ES). 1. Amended estimated tax ...................................................................................................................... 1. $ _______________ 2. Less: (a) Amount of overpayment from last year elected for credit to estimated tax and applied to date......................................................... 2a. - $______________ (b) Payments made on estimated tax declaration (Florida Form F-1120ES).... 2b. - $______________ (c) Total of Lines 2(a) and 2(b) ......................................................................................................... 2c. $ _______________ 3. Unpaid balance (Line 1 less Line 2(c)) ................................................................................................ 3. $ _______________ 4. Amount to be paid (Line 3 divided by number of remaining installments) ......................................... 4. $ _______________ References The following documents were mentioned in this form and are incorporated by reference in the rules indicated below. The forms are available online at floridarevenue.com/forms. Form F-2220 Underpayment of Estimated Tax on Florida Corporate Income/Franchise Tax Rule 12C-1.051, F.A.C. Form F-7004 Florida Tentative Income/Franchise Tax Return and Application for Extension of Time to File Return Rule 12C-1.051, F.A.C. Form F-1120A Florida Corporate Short Form Income Tax Return Form F-1156Z Florida Enterprise Zone Jobs Credit Certificate of Eligibility for Corporate Income Tax Rule 12C-1.051, F.A.C. Form F-1158Z Enterprise Zone Property Tax Credit Rule 12C-1.051, F.A.C. Form F-1120N Instructions for Corporate Income/Franchise Tax Return Rule 12C-1.051, F.A.C. Form F-1120ES Declaration/Installment of Florida Estimated Income/Franchise Tax Rule 12C-1.051, F.A.C. Rule 12C-1.051, F.A.C.
Form F-1120
More about the Florida Form F-1120 Corporate Income Tax TY 2023
We last updated the Florida Corporate Income/Franchise Tax Return in January 2024, so this is the latest version of Form F-1120, fully updated for tax year 2023. You can download or print current or past-year PDFs of Form F-1120 directly from TaxFormFinder. You can print other Florida tax forms here.
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TaxFormFinder has an additional 40 Florida income tax forms that you may need, plus all federal income tax forms. These related forms may also be needed with the Florida Form F-1120.
| Form Code | Form Name |
|---|---|
| Form F-1120N | Instructions for Preparing Form F-1120 |
| Form F-1120A | Florida Corporate Short Form Income Tax Return |
| Form F-1120ES | Declaration/Installment of Florida Estimated Income/Franchise Tax R.01/17 |
| Form F-1120X | Amended Florida Corporate Income/Franchise Tax Return with Instructions R.01/16 |
View all 41 Florida Income Tax Forms
Form Sources:
Florida usually releases forms for the current tax year between January and April. We last updated Florida Form F-1120 from the Department of Revenue in January 2024.
About the Corporate Income Tax
The IRS and most states require corporations to file an income tax return, with the exact filing requirements depending on the type of company.
Sole proprietorships or disregarded entities like LLCs are filed on Schedule C (or the state equivalent) of the owner's personal income tax return, flow-through entities like S Corporations or Partnerships are generally required to file an informational return equivilent to the IRS Form 1120S or Form 1065, and full corporations must file the equivalent of federal Form 1120 (and, unlike flow-through corporations, are often subject to a corporate tax liability).
Additional forms are available for a wide variety of specific entities and transactions including fiduciaries, nonprofits, and companies involved in other specific types of business.
Historical Past-Year Versions of Florida Form F-1120
We have a total of thirteen past-year versions of Form F-1120 in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:
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