Instructions For Form Gt-800017 - Corporate Income Tax printable pdf download

GT-800017

Corporate Income Tax

R. 01/16

Corporate income tax is imposed by

section (s.) 220.11, Florida Statutes (F.S.).

Who Must File?

All corporations (including tax-exempt organizations) doing business, earning income, or existing in

Florida.

Every bank and savings association doing business, earning income, or existing in Florida.

All associations or artificial entities doing business, earning income, or existing in Florida.

Foreign (out-of-state) corporations that are partners or members in a Florida partnership or joint

venture. A “Florida partnership” is a partnership doing business, earning income, or existing in Florida.

A limited liability company (LLC) classified as a corporation for Florida and federal income tax

purposes is subject to the Florida Income Tax Code and must file a Florida corporate income tax

return.

An LLC classified as a partnership for Florida and federal income tax purposes must file a Florida

Partnership Information Return (Florida Form F-1065) if one or more of its owners is a corporation. In

addition, the corporate owner of an LLC classified as a partnership for Florida and federal income tax

purposes must file a Florida corporate income tax return.

A single member LLC disregarded for Florida and federal income tax purposes is not required to file a

separate Florida corporate income tax return. The income must be reported on the owner’s return if

the single member LLC is owned, directly or indirectly, by a corporation. The corporation must file

Florida Form F-1120 (Florida Corporate Income/Franchise Tax Return), reporting its own income and

the income of the single member LLC, even if the only activity of the corporation is ownership of the

single member LLC.

Homeowner and condominium associations that file federal Form 1120 (U.S. Corporation Income

Tax Return) must file Florida Forms F-1120 or F-1120A (Florida Corporate Short Form Income Tax

Return) regardless of whether any tax may be due. If you file federal Form 1120-H (U.S. Income Tax

Return for Homeowners Associations), you are not required to file a Florida return.

Political organizations that file federal Form 1120-POL.

S corporations that pay federal income tax on Line 22c of federal Form 1120S.

Tax-exempt organizations that have “unrelated trade or business taxable income” for federal income

tax purposes are subject to Florida corporate income tax and must file either Florida Form F-1120 or

F-1120A.

All corporations and other organizations listed here must file a return even if no tax is due.

Tax Base and Rate

Florida corporate income tax liability is computed using federal taxable income, modified by certain

Florida adjustments, additions, and subtractions, to determine adjusted federal income.



A corporation doing business outside Florida may apportion its total income. Adjusted

federal income is apportioned to Florida using a three-factor formula. The formula is a

weighted average, designating 25 percent each to factors for property and payroll, and

50 percent to sales.

Florida Department of Revenue, Corporate Income Tax, Page 1

Instructions For Form Gt-800017 - Corporate Income Tax