Florida franchise tax return 2025

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Per Florida Form F-1120 instructions, an S Corporation is not generally required to file a return unless the S Corporation is subject to federal tax. S Corporation is subject to tax when it has excess income, built-in gains, capital gains, LIFO recapture, or ITC recapture.
LLCs are shielded from state income tax, and their owners pay no taxes to the state of Florida on the personal income that passes through to them from the business. That means most LLCs only need to pay federal self-employment taxes, Floridas sales tax, and any applicable additional local taxes.
If your corporations annual net income multiplied by the applicable corporate tax rate is higher than $800, you must pay that amount to the California Franchise Tax Board instead of the initial $800.
In Florida, only business owners of C corporations and Limited Liability Companies (LLCs) with C corp status pay business taxes. If you own a C corp or LLC taxed as a C corp, you have to pay Florida corporate taxes.
As of 2023, the states that impose franchise tax are Alabama, Arkansas, California, Delaware, Georgia, Illinois, Louisiana, Mississippi, Missouri, Minnesota, Nevada, New Hampshire, New York, North Carolina, Oklahoma, Tennessee, Texas, Vermont, and the District of Columbia.
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The Florida corporate income/franchise tax is imposed on all corporations for the privilege of conducting business, deriving income, or existing within Florida. Corporations, including entities that are taxed federally as corporations, are subject to the tax.
5.5% for taxable years beginning prior to January 1, 2019. 4.458% for taxable years beginning January 1, 2019 December 31, 2020. 3.535% for taxable years beginning January 1, 2021 December 31, 2021. ​5.5% for taxable years beginning on or after January 1, 2022.

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