Florida Form F-1120 – Fill Out and Use This PDF

The Florida F 1120 form is also known as the Florida Corporate Income/Franchise Tax Return, a vital document for corporations operating within the state. It is designed for reporting a corporation's income, calculating tax liability, and determining any applicable franchise tax for the fiscal year. Ensuring accurate and timely submission of this form is crucial for compliance with state tax obligations and avoiding potential penalties. Ready to tackle your Florida F 1120 form? Click the button below to get started.

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Florida Form F-1120 PDF Details

Understanding the complexities of corporate income and franchise tax obligations is critical for businesses in Florida, and the Florida Corporate Income/Franchise Tax Return F-1120 serves as a key component in fulfilling these obligations. This form, revised in January 2020 and governed by Rule 12C-1.051, F.A.C., is designed to calculate the tax due based on the Florida net income of corporations. It requires detailed information, starting with the corporation’s name, address, and Federal Employer Identification Number (FEIN), moving through the computation of Florida net income and adjustments to federal taxable income, and concluding with the determination of tax liability and available credits against the tax. The inclusion of federal taxable income, state income taxes deducted, additions and subtractions to federal taxable income, and specific allocations for nonbusiness income pertinent to Florida, are vital sections of this form. Other crucial parts include schedules for additions, subtractions, apportionment of adjusted federal income, and credits against corporate income/franchise tax. Additionally, the form requires a declaration under penalties of perjury that it has been examined for accuracy. Businesses have the responsibility to ensure that the form is correctly filled out and submitted alongside required documentation, such as a copy of the federal return and the Florida Form F-7004 if an extension was requested. Details pertaining to the corporation’s incorporation state, business activity codes as they relate to Florida, and other specifics about the company’s status and activities within and outside Florida are also requested, highlighting the comprehensive nature of this tax return form in assessing a corporation's tax responsibilities within the state.

Question	Answer
Form Name	Florida Form F-1120
Form Length	6 pages
Fillable?	Yes
Fillable fields	253
Avg. time to fill out	26 min 5 sec
Other names	form f 1120, 1120 form revenue, form f 1120 due date, f1120 instructions 2020

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Florida Corporate Income/Franchise Tax Return

F-1120 R. 01/20

				Rule 12C-1.051, F.A.C.
				Effective 01/20
			Name	Page 1 of 6
			Name
			Address
			City/State/ZIP
Use black ink. Example A - Handwritten Example B - Typed				Check here if any changes have been made to
0 1 2 3 4 5 6 7 8 9	0123456789	For calendar year 2015 or tax year		name or address
		For calendar year 2015 or tax year		name or address
		beginning _________________, 2015
		ending _________________________
		ending _________________________

Year end date ___________________

Federal Employer Identification Number (FEIN)

Computation of Florida Net Income Tax

1.	Federal taxable income (see instructions).	Check here
	Attach pages 1–5 of federal return		1.
		if negative
2.	State income taxes deducted in computing federal taxable income Check here		2.
	(attach schedule)	if negative
3.	Additions to federal taxable income (from Schedule I)	Check here	3.
		if negative
4.	Total of Lines 1, 2, and 3	Check here	4.
		if negative
5.	Subtractions from federal taxable income (from Schedule II)	Check here	5.
		if negative
6.	Adjusted federal income (Line 4 minus Line 5)	Check here	6.
		if negative

DOR use

only/

US Dollars

Cents

7.	Florida portion of adjusted federal income (see instructions)	Check here
7.		if negative	7.
		Check here
8.	Nonbusiness income allocated to Florida (from Schedule R)	if negative	8.
9.	Florida exemption		9.
10.	Florida net income (Line 7 plus Line 8 minus Line 9)		10.
11.	Tax due: 4.458% 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

ENDINGYEAR M M D D Y

US DOLLARS

Total amount due

F-1120 R. 01/20

CENTS

Enter name and address, if not pre-addressed:

from Line 17

Total credit

from Line 18

Total refund from Line 19

FEIN

Enter FEIN if not pre-addressed

9100 0 20199999 0002005037 5 3999999999 0000 2

F-1120

R.01/20 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 and on payment coupon. If the amount is negative (overpayment),
	enter on Line 18 and/or Line 19					17.
18.	Credit: Enter amount of overpayment		to next year’s estimated tax
	here and on payment coupon					18.
19.	Refund: Enter amount of overpayment to be			here and on payment coupon		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

Paid preparers only

Signature of officer (must be an original signature)

Preparer’s signature

Firm’s name (or yours if self-employed) and address

Title

Date
	Preparer	Preparer’s
	check if self-	PTIN
Date	employed
	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?

YES q NO q

D.q Initial return q Final return (final federal return filed)

E.Principal Business Activity Code (as pertains to Florida)

F.A Florida extension of time was timely filed? YES q NO q

G-1. Corporation is a member of a controlled group? YES q NO q If yes, attach list.

G-2. Part of a federal consolidated return? YES q NO q If yes, provide: FEIN from federal consolidated return: ___________________________________

Name of corporation: _______________________________________________

G-3. The federal common parent has sales, property, or payroll in Florida? YES q NO q

H.Location of corporate books:____________________________________________________________

City: _________________________________________ State: _____________ ZIP: _______________

I.Taxpayer is a member of a Florida partnership or joint venture? YES q NO q

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 q1120 q1120S or __________________

-Online Information Reporting Requirement

Visit the Department's website to obtain a list of the required information, due date, penalty rate and application to enter the information. (See section 220.27, Florida Statutes)

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

If you are requesting a (Line 19), send your return to: Florida Department of Revenue

PO Box 6440

Tallahassee FL 32314-6440

Make your check payable to the Florida Department of Revenue.

Write your FEIN on your check.

Sign your check and return.

Attach a copy of your federal return.

Attach a copy of your Florida Form F-7004 (extension of time) if applicable.

F-1120

R. 01/20

Page 3 of 6

NAMEFEINTAXABLE 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 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 credits	12.

13.	Florida renewable energy production tax credit	13.

14.	New markets tax credit	14.

15.	Entertainment industry tax credit	15.

16.	Research and Development tax credit	16.

17.	Energy Economic Zone tax credit	17.

18.	s.168(k), IRC special bonus depreciation	18.

19.	Other additions (attach schedule)	19.

20.	Total Lines 1 through 19. Enter total on Line 20 and on Page 1, Line 3.	20.

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	$ _________________________	1.

(d)less direct and indirect expenses and related amounts deducted

under s. 250, IRC

$ _________________________

Total u

2.Gross subpart F income less attributable expenses

	(a) Enter s. 951, IRC, subpart F income $ _______________________	2.
	(b) less direct and indirect expenses $ _______________________	Total u

Note: Taxpayers doing business outside Florida enter zero on Lines 3 through 6, and complete Schedule IV.
		3.
3.	Florida net operating loss carryover deduction (see instructions)

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.179, IRC, expense (see instructions)	9.

10.	s. 168(k), IRC, special bonus depreciation (see instructions)	10.

11.	Other subtractions (attach schedule)	11.

12.	Total Lines 1 through 11. Enter total on Line 12 and on Page 1, Line 5.	12.

F-1120

R. 01/20

Page 4 of 6

NAMEFEINTAXABLE 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

Property (Schedule III-B below)

X 25% or ______

Payroll

X 25% or ______

Sales (Schedule III-C below)

X 50% or ______

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

TOTAL EVERYWHERE

a. Beginning of year

b. End of year

c. Beginning of year

d. End of year

Inventories of raw material, work in process, finished

goods

Buildings and other depreciable assets

Land owned

Other tangible and intangible (financial org. only) assets (attach schedule)

Total (Lines 1 through 4)

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.

Rented property (8 times net annual rent)

a. Rented property in Florida

7a.

b. Rented property Everywhere

7b.

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)

Sales (gross receipts)

N/A

Sales delivered or shipped to Florida purchasers

N/A

Other gross receipts (rents, royalties, interest, etc. when applicable)

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

Rounded to Six Decimal Places

Insurance companies (attach copy of Schedule T–Annual Report)

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. 01/20

Page 5 of 6

NAMEFEINTAXABLE YEAR ENDING

Schedule V — Credits Against the Corporate Income/Franchise Tax

1.	Florida health maintenance organization 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 (attach tax credit certificate)	10.

11.	State housing tax credit (attach certification letter)	11.

12.	Florida tax credit scholarship program credits (attach certificate)	12.

13.	Florida renewable energy production tax credit	13.

14.	New markets tax credit	14.

15.	Entertainment industry tax credit	15.

16.	Research and Development tax credit	16.

17.	Energy Economic Zone tax credit	17.

18.	Other credits (attach schedule)	18.

19.	Total credits against the tax (sum of Lines 1 through 18 not to exceed the amount on Page 1, Line 11).	19.
	Enter total credits on Page 1, Line 12	19.
	Enter total credits on Page 1, Line 12

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. 01/20

Page 6 of 6

NAME	FEIN	TAXABLE YEAR ENDING
Estimated Tax Worksheet For Taxable Years Beginning On or After January 1,
1. Florida income expected in taxable year	...................................................................................................	1. $ _______________

2.Florida exemption $50,000 (Members of a controlled group, see instructions on Page 14 of

	Florida Form F-1120N)		2.	$ _______________
3.	Estimated Florida net income (Line 1 less Line 2)		3.	$ _______________
4.	Total Estimated Florida tax (4.458% of Line 3)	$ ____________________________
	Less: Credits against the tax	$ ____________________________	4.	$ _______________

5.Computation of installments:

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	Rule 12C-1.051, F.A.C.
	Corporate Income/Franchise Tax
Form F-7004	Florida Tentative Income/Franchise Tax Return	Rule 12C-1.051, F.A.C.
	and Application for Extension of Time to File
	Return
Form F-1156Z	Florida Enterprise Zone Jobs Credit Certificate of	Rule 12C-1.051, F.A.C.
	Eligibility for Corporate Income Tax
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	Rule 12C-1.051, F.A.C.
	Income/Franchise Tax

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2. Just after filling out the previous part, go to the next stage and fill in all required details in all these blanks - Florida exemption, Florida net income Line plus, Tax due of Line, Credits against the tax from, Total corporate incomefranchise, Payment Coupon for Florida, Do not detach coupon, To ensure proper credit to your, F R, YEAR ENDING, DMM, D Y, If year end return is due st day, Enter name and address if not, and Name.

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3. Completing a Penalty F b Other, c Interest F d Other Line Total, Total of Lines and Payment, Tentative tax payment, Total amount due Subtract Line, due here and on payment coupon If, here and on payment coupon, Refund Enter amount of, F R Page of, If your return is not signed or, This return is considered, is properly signed and verified, Under penalties of perjury I, Sign here, and Paid preparers only is essential for the next step, make sure to fill them out in their entirety. Don't miss any details!

A way to complete f 1120 instructions step 3

4. Filling out Firms name or yours if, ZIP, State of incorporation, Florida Secretary of State, G Part of a federal consolidated, FEIN from federal consolidated, All Taxpayers Must Answer, Florida consolidated return, C D q Initial return q Final, Principal Business Activity Code, YES q NO q, Name of corporation, G The federal common parent has, Location of corporate books, and A Florida extension of time was is paramount in this fourth form section - ensure that you take the time and fill in each blank area!

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f 1120 instructions conclusion process described (portion 5)

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Florida Form F-1120 – Fill Out and Use This PDF

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