Instructions for Form F-1120 Florida Corporate Income / Franchise Tax Return - Florida

This document contains official instructions for Form F-1120 , Florida Corporate Income/Franchise Tax Return - a form released and collected by the Florida Department of Revenue.

FAQ

Q: What is Form F-1120?A: Form F-1120 is the Florida Corporate Income/Franchise Tax Return for businesses in Florida.

Q: Who needs to file Form F-1120?A: All Florida corporations and S corporations that are doing business or earning income in Florida must file Form F-1120.

Q: What is the purpose of Form F-1120?A: Form F-1120 is used to report and pay corporate income and franchise tax to the state of Florida.

Q: When is the due date for filing Form F-1120?A: Form F-1120 is generally due on or before the 1st day of the 5th month following the close of the corporation’s taxable year.

Q: Are there any extensions available for filing Form F-1120?A: Yes, extensions of time to file Form F-1120 may be granted if a valid federal extension has been granted or if the corporation has reasonable cause.

Q: What are the penalties for not filing or late filing Form F-1120?A: Penalties for not filing or late filing Form F-1120 include late filing penalty, late payment penalty, and interest on any unpaid tax.

Q: Is there an electronic filing option for Form F-1120?A: Yes, corporations can choose to file Form F-1120 electronically using approved tax preparation software or through authorized e-file providers.