Form F-7004a - Corporate Income Tax - Florida Department Of Revenue (Page 3 of 4) in pdf

F-1120A

R. 01/99

Page 4

LINE 9 Total Amount Due or Overpayment - Subtract amount shown

$5,000 exemption must be prorated based on the number of days in

on Line 7 from line 6, add any amount shown on Line 8, and enter the

the short taxable year to 365.

result on Line 9.

If Line 9 is a negative amount, you have overpaid your Florida

LINE 5 Florida Net Income - Subtract lines 3 and 4 from the sum of

corporate income tax. To have this amount credited toward next year's

lines 1 and 2 and enter the difference on line 5. (line 1 + line 2 - line 3

tax liability, place an "X" in box 9a. To have this amount refunded,

- line 4). If this amount is negative, type or trace over the negative sign

place an "X" in box 9b. Line 9b must be completed in order to receive

preceding the amount on line 5, and enter zero (0) on line 6.

a refund. If no entry is made, the entire amount of overpayment will be

credited to next year's estimated tax. If line 9 is a positive amount, this

LINE 6 Corporate Income Tax Due - Enter 5.5 percent of line 5. If

is the amount due. Make your check or money order payable to the

line 5 is zero (0) or less, enter zero (0) on line 6. If this amount is

Florida Department of Revenue. U.S. Funds are required.

$2,500 or greater, you cannot file form F-1120A. Use Form F-1120FA

(Forms Requisition) on page 5 to request Form F-1120.

General Information for F-1120A

LINE 7 Payment Credits - Enter the total of the tentative tax paid with

When to File

Form F-7004 or F-7004A (Florida Tentative Income Tax Return and

•

Generally, Form F-1120A is due on or before the 1st day of the 4th

Application for Extension of Time to File Return) plus estimated tax

month following the close of the taxable year or the 15th day

payments if any, made for the taxable year, or carryovers from previous

following the due date, without extension, for the filing of the related

years, plus the amount of any corporate income tax credit correction

federal return for the taxable year, whichever is later.

letter issued by the Department.

•

A return will be considered timely filed if it bears a U.S. postmark date

on or before the applicable due date. If a return is due on a Saturday,

LINE 8 Penalty and Interest - If payment with this return includes

Sunday, or legal holiday, it will be considered timely if filed the next

interest accrued or penalty incurred, the sum should be entered on this

succeeding day which is not a Saturday, Sunday, or legal holiday.

line.

Payment of Tax

Penalties

The balance of tax due must be paid in full with the return. Failure to

(a) The penalty for failure or refusal to file within the prescribed time is

pay the tax on time will subject the taxpayer to assessment of penalties

10% per month, not to exceed 50% of the tax due with the return.

and interest.

(b) The penalty for failure to file a return when no tax is due is $50 per

month, or portion thereof, not to exceed $300.

Who Must Make Estimated Tax Payments

Every taxpayer subject to taxation under the provisions of Chapter 220

deficiency.

or Chapter 221, Florida Statutes, must make a declaration of estimated

(d) The penalty for an incomplete return is the greater of $300 or 10%

tax for the taxable year if the combined amount of its corporate income

of the tax finally determined to be due. An incomplete return is one

tax and emergency excise tax liability for the year is expected to be

that cannot be readily handled, verified, or reviewed.

more than $2,500. Payments may not be annualized. If the corpora-

(e) The penalty for underpayment of tentative tax is 12% per annum

tion is subject to excise tax and/or the expected tax liability is more

during the extension period on the underpaid amount from the original

than $2,500, you cannot file Form F-1120A, you must file Form F-1120.

due date of the return.

Installment one of Form F-1120ES is provided in this package. If you

require additional installment coupons and/or Form F-1120, complete

Interest

Form F-1120FA or see Information, Forms and Payments on page 6.

Interest on late payment of corporate income/franchise tax accrues at

a floating rate of interest from the due date of the return, without regard

to extension, until the date the tax is paid.

F-7004A

Signature — Form F-7004A must be signed by a person

R. 01/99

Florida Income/Franchise

authorized by the taxpayer to do so, and who is either (a) an officer

Emergency Excise Tax Due

Six Month Extension of Time Request

or partner of the taxpayer, (b) a person currently enrolled to practice

1. Tentative amount of Florida tax for the taxable year

before the Internal Revenue Service, or (c) an attorney or C.P.A.

2. LESS: Estimated tax payments for the taxable year

qualified to practice before the IRS under P.L. 89-332.

3. Balance due —100% of the tax tentatively determined

due must be paid with this extension request

Intangible Tax Notice — See instructions for question I on page 2.

Transfer the amount in Line 3 to Tentative Tax Due on reverse side.

A. Has Form 7004 or 8736 been filed with the Internal Revenue

Information For Filing Form F-7004A

Service for the above taxable year?

Yes

When to file — File this application on or before the original due date of

the taxpayer's corporate income tax or partnership return.

B. If applicable, state in detail the reason the extension is

Penalties for failure to pay tax — If a payment of tax is required with

needed:

this application, failure to make such payment will void any extensions

of time and subject the taxpayer to penalties and interest for failure to

file a timely return(s) and pay all taxes due. There is also a penalty for

failure to file when no tax is due.

C. Type of federal return filed:

Form F-7004a - Corporate Income Tax - Florida Department Of Revenue Page 3

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