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

Form F-1120 Schedule F-851 Corporate Income/Franchise Tax Affiliations Schedule - 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. An up-to-date fillable Form F-1120 Schedule F-851 is available for download through this link.

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 corporations doing business in Florida, including S corporations, 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/franchise tax to the state of Florida.

Q: When is Form F-1120 due?A: Form F-1120 is due by the 15th day of the 4th month following the close of the tax year.

Q: Is Form F-1120 the only tax return that needs to be filed by corporations in Florida?A: No, in addition to Form F-1120, corporations may also need to file other federal tax forms, such as Form 1120 or Form 1120S.

Q: Are there any penalties for late filing or payment of Form F-1120?A: Yes, there are penalties for late filing or payment of Form F-1120, including interest charges and potential loss of certain tax benefits.

Q: Is there any assistance available for filling out Form F-1120?A: Yes, the Florida Department of Revenue provides resources and assistance to help taxpayers with filling out and filing Form F-1120.

Q: Can Form F-1120 be filed electronically?A: Yes, corporations can file Form F-1120 electronically using the Florida Department of Revenue's e-file system.

Q: What should I do if I have questions or need help with Form F-1120?A: If you have questions or need help with Form F-1120, you can contact the Florida Department of Revenue or seek assistance from a tax professional.