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 Florida.

Q: Who needs to file Form F-1120?
A: All corporations that are subject to the Florida corporate income/franchise tax must file Form F-1120.

Q: What is the purpose of Form F-1120?
A: Form F-1120 is used to report a corporation’s income and calculate the amount of corporate income/franchise tax owed to the state of Florida.

Q: What is the due date for filing Form F-1120?
A: The due date for filing Form F-1120 is the 1st day of the 4th month following the close of the corporation’s tax year.

Q: Are there any extensions available for filing Form F-1120?
A: Yes, corporations can request a 5-month extension to file Form F-1120 by submitting Form F-7004.

Q: How do I pay the corporate income/franchise tax?
A: You can pay the corporate income/franchise tax by electronic funds transfer, credit card, or by mailing a check or money order with your completed Form F-1120.

Q: What if I make a mistake on Form F-1120?
A: If you make a mistake on Form F-1120, you should file an amended return using Form F-1120X.

Q: Do I need to include supporting documentation with Form F-1120?
A: Yes, you must include certain supporting documentation, such as a balance sheet, income statement, and schedule M-3, with your Form F-1120.

Q: What happens if I don’t file Form F-1120?
A: If you fail to file Form F-1120 or pay the required tax by the due date, you may be subject to penalties and interest charges.