Florida Florida Corporate Income/Franchise Tax Return

Florida Corporate Income/Franchise Tax Return
Form F-1120
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

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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	

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	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.

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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

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US DOLLARS

	

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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

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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.

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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

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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.