Florida corporate taxpayers are required to report certain tax information to the Department of Revenue for tax years beginning during the 2018 and 2019 calendar years.
For calendar year taxpayers, the extended due date for the Florida Form F-1120 is November 1, 2019.
The information is generally due the earlier of:
The Department provided a “grace period”—eventually until October 27, 2019—to submit the additional information when, for example, the taxpayer’s 2018 corporate income tax return was filed before August 23, 2019.
Corporations that do not timely comply with the reporting requirements are subject to a penalty equal to the greater of $1,000 or one percent (1%) of the tax determined to be due for the most recent tax year reported on a return filed with the Department. Read a September 2019 report from KPMG LLP.
For more information, contact a KPMG State and Local Tax professional:
Jeremy Dukes | +1 954-847-3971 | firstname.lastname@example.org
Henry Parcinski | +1 954-847-3943 | email@example.com
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