Florida Corporate Tax: Filing Requirements, Payment Options, and Deadlines

Florida corporations and certain other entities must file and pay corporate income taxes to the Florida Department of Revenue (DOR). If you do business, earn income, or simply exist in the Sunshine State, you need to understand Florida's corporate tax filing requirements. 

To help you out, this post explains who needs to file, which forms to use, how to pay corporate income tax, and what happens if you're late. Then, it lists credits and frequently asked questions. 

Behind on filing? Can't afford to pay your corporate tax bill? Have other questions about corporate taxes in Florida? Then, it's time to reach out to a licensed tax professional who has dedicated experience with the Florida DOR. Start your search on TaxCure now, and use the filters to narrow down the results to pros with the experience you need. 

Key takeaways

• Corporations must file a corporate income tax return in Florida if they do business, earn income, or exist in the state. 
• File Form F-1120 online or through the mail, or use the short Form F-1120A if you have under $45,000 in income and meet other criteria.
• Returns are due April 30th for calendar year taxpayers or on a date based on the end of your fiscal year.
• Late filing penalties are 10% per month, up to 50% of the tax due, while underpayment penalties are 12% of the unpaid tax. 
• Use TaxCure to find a licensed Florida tax professional.

Who needs to file a Florida corporate income tax return?

All corporations doing business, earning income, or existing in Florida must file a corporate income tax return with the FL DOR. The following entities also must file if they do business, earn income, or exist in Florida:

• Banks and savings associations
• Out-of-state corporations that are partners or members in Florida partnerships or joint ventures, including LLCs classified as partnerships. 
• LLCs classified as corporations
• Homeowner and condominium associations that file a U.S. Corporate Income Tax Return
• Political organizations that file Form 1120-POL with the IRS
• S corporations that pay tax on Line 23c of Federal Form 1120S
• Tax-exempt organizations that report unrelated business income (UBI) to the IRS

Active corporations are not required to file.

If you're in business but not required to file, you should update your business's status on your online account with the FL DOR. Typically, this applies when C-corporations elect to be taxed as S-corporations, but it may come into play in other situations as well. If you're unsure, consult with a licensed tax professional. 

How to file

Complete Form F-1120 (Florida Corporate Income/Franchise Tax Return) and mail it to the Department of Revenue or e-file using IRS-approved software. You must e-file your Florida return if:

• You're required to file your IRS corporate return electronically, or
• You paid $5000 or more in Florida corporate income tax last year.

You may file the short return F-1120A (Florida Corporate Short Form Income Tax Return) directly through the Florida Corporate Income Tax (CIT) website if your corporation meets these criteria:

• $45,000 or less in net income.
• 100% of business operations are conducted in Florida
• No additions or subtractions to federal corporate income, other than net operating losses (NOL) or state income tax deductions
• Not included in a Florida or IRS consolidated corporate income tax return 
• Not claiming tax credits, other than credits for tentative or estimated tax payments 
• Not required to pay federal Alternative Minimum Tax 

Due date

Florida corporate income tax returns are due on the later of:

• The 15th day following the non-extended due date of your federal corporate return – for example, if your federal corporate return is due April 15th, your Florida return is due April 30th.
• The 1st day of the 4th month following the end of the tax year, if your tax year ends on June 30, or the 1st day of the 5th month following the end of the tax year if your tax year ends on any other date.

If you need extra time, request an extension on or before the due date by filing a Florida Corporate Extension of Time (F-7004) – you can file this through your online account. The extension gives you six months to file,e or up to seven months if your tax year ends on June 30th. The tax is due on the original filing deadline, and you should make a tentative tax payment by that day. 

Calculate the tentative payment carefully. If you underpay by the greater of $2,000 or 30% of the tax due shown on the return, Florida will invalidate the extension and charge you a late filing penalty. If you're filing five months after the original deadline, that penalty may be up to 50% of your balance due. 

If you underpay by less than those amounts, the penalty for underpaying the tentative tax is just 12% of the underpayment. 

What if you file late?

The penalty for late filing is 10% of the tax due for each month or part of a month you're late, up to 50%. If you don't owe tax, the penalty is $50 per month, up to $300. 

How much is corporate income tax in Florida?

As of 2026, the rate is 5.5% on net income minus an exemption of $50,000. This rate applies to all corporate returns filed in Florida after January 1st, 2022.

If you do business in multiple states, you should figure out which portion of your corporate income is subject to Florida tax by using a weighted average based on:

• 25% where you own property
• 25% where you pay wages 
• 50% where you make sales

You should also add non-business income allocated to Florida to that number. Then, you should subtract the exemption. Finally, multiply by the effective corporate income tax rate for the year you file to figure out how much you owe.

How to pay 

You can submit payments when you e-file using approved software, or you can make payments directly to the DOR through their website. If you owe over $2500, you must make quarterly estimated payments. Send payments with Form F-1120ES or submit them online. The penalty for not making estimated payments is 12% of the underpayment. 

What if you can't pay in full?

You may be able to negotiate an installment agreement with the Fl DOR. Typically, the state requires a 25% downpayment and then lets you make payments for up to 12 months, but you may be able to secure other terms on a case-by-case basis. 

The DOR allows qualifying taxpayers to settle liabilities for less than owed through its offer in compromise program. There's no application form; instead, you must negotiate directly with the Department. 

Consequences of nonpayment

In addition to penalties, the state may file a tax lien (warrant) against your business, and you may face personal liability for the taxes if you willfully failed to pay. The DOR can also hold you personally liable for unpaid sales tax owed by the corporation. 

If that happens, your personal assets are also at risk. The state may seize wages, bank accounts, inventory, or other business assets.

What if you haven't filed corporate income tax returns in Florida?

If you have missed your filing requirement, consider looking into the state's Voluntary Disclosure Program. You must come forward voluntarily to file and pay the taxes, and in exchange for your corporation, the DOR waives penalties and only looks back to the three years prior to the date of your VDP. 

Corporate tax incentives

Florida offers corporations several incentives, including:

• Individuals With Unique Abilities Tax Credit Program -- available through calendar year 2026, this credit provides businesses with $1 for each hour a qualified employee works in the taxable year up to 1,000 hours. Employers can claim up to $10,000 per year and roll forward unclaimed credits for up to five years. 
• Rural Job Tax Credit – Corporations that create new jobs in designated rural areas of Florida may receive a credit worth $1000 to $1500 per employee and up to $500,000 per calendar year. You can carry forward unused credits up to five years.
• Urban High-Crime Area Job Tax Credit – For creating new jobs in designated urban areas, businesses can claim a credit of $500 to $2000 per employee, which can be carried forward for up to five years. 
• Capital Investment Tax Credit – A credit of up to 5% of eligible capital costs, which can be claimed for up to 20 years by businesses in high-impact sectors (for example, silicon technologies, solar panels, etc.) working on qualified projects worth at least $25 million.
• Child care tax credits program – A credit for operating certain types of childcare facilities for the benefit of your employees. 
• Community Contribution Tax Credit – A credit of 50% of qualified community contributions (cash, property, etc) worth up to $200,000 per business annually, which can be carried forward for up to five years. 
• Contaminated Site Rehabilitation Tax Credit – 50% of rehabilitation costs, up to $500,00 per site per year, can be carried forward for up to five years, for businesses that voluntarily rehabilitate brownfield sites or sites contaminated with dry-cleaning solvent.
• Qualified Railroad Reconstruction or Replacement Expenditures – 50% of a railroad's qualified expenditures incurred during the year, up to $3500. 
• Entertainment Industry Tax Credit – Available to qualifying companies if approved by the Florida Department of Revenue
• Hazardous Waste Facility Tax Credit – 5% of the cost of stationary facility equipment for commercial hazardous waste recycling facilities that must get evaluations or permits from the Florida Department of Environmental Protection. 
• New Markets Tax Credit – 39% of the purchase price of qualified investments, which can be carried forward for up to five years. 
• Research and Development Tax Credit – Available to businesses in qualifying industries, including manufacturing, life sciences, aviation, IT, defense, etc eligble to claim a federal research tax credit, worth up to 50% of Florida corporate income tax, after taking other credits into account. 
• Rural Community Investment Program Tax Credit – Available upon approval by the Florida Department of Commerce to businesses that make investments in rural communities.
• State Housing Tax Credit – Up to 9% of the eligible basis of low-income housing projects in urban areas.

The DOR also offers corporations a dollar-for-dollar credit for donating to eligible charities through the Home Away From Home Tax Credit, the Live Local Program Tax Credit, the New Worlds Reading Initiative Tax Credit, the Scholarship-Funding Organizations Tax Credits for Contributions, and the Strong Families Tax Credit.

FAQ: Florida corporate income tax

Keep reading to get answers to some of the most commonly asked questions about Florida's corporate income tax.

What is Florida's corporate income tax rate?

As of 2026, Florida's corporate income tax rate is 5.5% of net income, after a $50,000 exemption. For example, if a corporation's net income is $150,000, its corporate tax is $5500. That's ($150,000 - $50,000) x .055 = $5500.

Which businesses are exempt from Florida corporate tax?

Pass-through entities are exempt from Florida corporate tax, including sole proprietorships, partnerships, S corporations, and LLCs that have not elected to be taxed as corporations. However, S corporations must file if they owe federal tax on the entity level. Additionally, corporate owners of LLCs and partnerships must file a corporate return if the LLC or partnership does business in Florida, even if the corporation wouldn't ordinarily be required to file in Florida. 

Do LLCs pay corporate income tax in Florida?

Only if they are taxed as a C-corporation or as an S-corporation that owes tax due to Excess Net Passive Income Tax or LIFO Recapture Tax. However, if a corporation owns an LLC, it must file a corporate income tax return in Florida if the LLC does business in the state, even if the corporation doesn't have a filing requirement based on its own activities. 

How do you file Florida corporate income tax?

You can file using e-filing software or by hiring a tax preparer. Alternatively, if your net income is $45,000 or less and you meet other criteria, you can file the short corporate income tax return on the Florida Department of Revenue website. You may also file by mail unless your organization is required to file online. 

What penalties apply for late Florida tax filings?

Filing your corporate tax return late leads to a monthly penalty of the greater of $50 or 10% of the tax owed, up to a maximum of $300 or 50% of the tax owed. 

What if the FL DOR audits my return?

If the FL DOR decides to audit your corporate income tax returns, you must back up the information on your return. That includes the reported income and expenses, but the auditor may also look at how you apportioned income to Florida and other factors related to the return. 

Do non-profit corporations need to file Florida corporate income tax?

Not if they are tax exempt on the federal level – for example, a 501(c)(3) nonprofit. However, they must file if they have unrelated business income (UBI) or file federal forms 1120-C or 990-T with the IRS.

Does Florida have a franchise tax?

Yes, Florida imposes a franchise tax on savings and loan associations. The tax is the same rate as the Florida corporate income tax. File Florida Corporate Income/Franchise Tax Return (Florida Form F-1120)

Get Help With Florida Corporate Income Tax

Dealing with corporate taxes can be complicated, and late payments or returns can quickly lead to excessive penalties. You may even lose the right to do business in Florida if you don't pay or file. To get help now, use TaxCure to find a Florida tax professional or check out our guide to the best tax relief firms in Florida to learn more.