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Florida Income Tax Forms

Modified date: September 9, 2023

Corporate Income Tax

Form F-1120 Corporate Income Excise Tax Return

Florida Income Tax Forms: An Overview

Florida is known for its sunny weather, beautiful beaches, and lack of state income tax. However, despite the lack of state income tax, there are still forms and filings required for residents and non-residents of the state. In this guide, we will provide an overview of Florida income tax forms, how to access them, and what you need to know to stay compliant.

Who Needs to File?

First, it is important to understand who needs to file income tax forms in Florida. As mentioned, Florida does not have a state income tax, meaning individuals who reside in Florida are not required to file a state income tax return. However, individuals who earn income in Florida or who received income from Florida sources must still file a federal income tax return with the Internal Revenue Service (IRS). This includes wages, salaries, tips, interest, rent, and other income earned within the state.

For non-residents who earn income from Florida sources but do not reside in the state, they are required to file a Florida Form F-1040NR. This form is used to report income earned from Florida sources, such as rental properties, business income, and any other taxable income earned within the state.

Types of Income Tax Forms

While Florida does not have a state income tax, there are still a few forms that may need to be filed. These forms relate to other taxes, such as property or sales taxes.

Form DR-15: Sales and Use Tax Return

Individuals and businesses who make sales or provide services in Florida may be required to collect and remit sales tax. This form must be filed monthly or quarterly, depending on the amount of sales tax collected. The form can be filed electronically through the Florida Department of Revenue’s website or mailed to their offices.

Form DR-501: Ad Valorem Tax Return

This form is used to report property tax assessments for real and tangible personal property. It is typically filed annually by businesses and individuals who own property in Florida.

Form F-1120: Florida Corporate Income Tax Return

Corporations that are incorporated in Florida or conduct business in the state must file a Florida Corporate Income Tax Return. This is a separate tax from the federal corporate income tax return and must be filed annually. The return must be filed electronically through the Florida Department of Revenue’s website or mailed to their offices.

Form RT-6: Reemployment Tax Return

This form is used to report reemployment tax, which is a tax on salaries and wages paid to employees. Employers must file this form quarterly and submit the payment electronically through the Florida Department of Revenue’s website.

Where to Find Florida Tax Forms

Florida tax forms can be found on the Florida Department of Revenue’s website. Taxpayers can download forms and instructions, file and pay online, or request hard copies of forms to be mailed. All forms and instructions are available in English and Spanish.

In addition to the Florida Department of Revenue’s website, taxpayers can also access forms and information through the IRS website. This includes federal income tax forms, as well as information on filing requirements and deadlines.

Important Dates and Deadlines

While Florida does not have a state income tax, it is important to understand important dates and deadlines for other taxes. For example, the sales and use tax return must be filed monthly or quarterly, depending on the amount of sales tax collected. The reemployment tax return must be filed quarterly, and the corporate income tax return must be filed annually.

For federal income tax returns, the deadline to file is generally April 15th of each year. However, due to the coronavirus pandemic, the deadline for the 2020 tax year was extended to May 17th, 2021.

Penalties and Interest

Taxpayers who fail to file or pay taxes on time may be subject to penalties and interest. For example, individuals who do not file their federal income tax return by the deadline may be subject to a failure-to-file penalty, which can be up to 5% of the unpaid taxes for each month the return is late. Likewise, taxpayers who do not pay their taxes on time may be subject to a failure-to-pay penalty, which can be up to 0.5% of the unpaid taxes for each month the taxes are late.

In addition to penalties, taxpayers may also be subject to interest on unpaid taxes. The interest rate is determined by the IRS and is based on the federal short-term interest rate plus 3%.

Conclusion

While Florida may not have a state income tax, there are still taxes and forms that taxpayers may need to be aware of. Individuals and businesses who earn income from Florida sources may be required to file a federal income tax return, while businesses may also need to file other tax returns, such as sales tax or corporate income tax. Taxpayers should stay up to date on filing requirements and deadlines to avoid potential penalties and interest. Forms and instructions can be found on the Florida Department of Revenue’s website and the IRS website.