Yes. Florida imposes a corporate income tax at a rate of 5.5 percent on C-corporations and other entities taxed as corporations that earn income in the state. The tax is governed by Chapter 220 of the Florida Statutes and administered by the Florida Department of Revenue. Florida has no personal income tax, but that exemption does not extend to corporate profits.
Which Businesses Owe It
C-corporations are the main entities on the hook. Any corporation that conducts business in Florida, earns income from Florida sources, or is organized under Florida law has to file a return, and that includes out-of-state corporations with activities in the state.1Florida Senate. Florida Code Chapter 220 – Section 220.02 Limited liability companies that elect to be treated as corporations by the IRS also fall under the requirement.
Several common structures are exempt. S-corporations generally owe no Florida corporate income tax because their profits pass through to shareholders, and since Florida has no personal income tax, that income is not taxed at the state level at all. Sole proprietorships, partnerships, and most LLCs taxed as partnerships are outside the scope of this tax.2Florida Senate. Florida Code Chapter 220 – Section 220.1991
If you run an out-of-state corporation, physical activities in Florida typically create a filing obligation: assembling, installing, or servicing products in the state, owning or leasing property there, or delivering goods with company-owned vehicles.3Florida Dept. of Revenue. Information for Out-of-State Businesses Florida has not published a specific economic nexus dollar threshold for corporate income tax, so physical-presence factors are the primary triggers.
How the Tax Is Calculated
The starting point is your federal taxable income from Federal Form 1120. Florida then requires specific additions and subtractions to arrive at what the state calls adjusted federal income.4Florida Dept. of Revenue. Corporate Income Tax A common addition is any state income tax you deducted federally, since Florida does not allow that deduction. Common subtractions include certain dividend income that was already taxed federally.5Online Sunshine. Florida Statutes Section 220.13
If your corporation does business both inside and outside Florida, you apportion the adjusted figure using a three-factor formula: 25 percent property, 25 percent payroll, and 50 percent sales. Only the share of income attributed to Florida activity is taxable here.
From that apportioned amount, subtract the $50,000 exemption to get Florida net income. Apply 5.5 percent to that number to get the tax.4Florida Dept. of Revenue. Corporate Income Tax A corporation with $50,000 or less in Florida net income after adjustments and apportionment owes nothing.
Credits That Reduce the Bill
Available credits include those for paying wages in Florida, for paying certain other state taxes or assessments, and for making qualifying investments in the state.4Florida Dept. of Revenue. Corporate Income Tax Each has its own eligibility rules and documentation requirements, so review the Department of Revenue’s corporate incentives information before claiming one.
When the Return Is Due
Florida corporate returns are due on the first day of the fifth month after the close of your tax year, or 15 days after the federal return due date (without extension), whichever is later.6Online Sunshine. Florida Statutes Section 220.222 For a calendar-year corporation whose Form 1120 is due April 15, the Florida return is due May 1.
You can request a six-month extension by filing Florida Form F-7004 with a tentative tax payment by the original due date. A June 30 fiscal year gets a seven-month extension instead. A federal extension does not extend your Florida deadline, and no extension of filing extends your deadline to pay.4Florida Dept. of Revenue. Corporate Income Tax
Estimated Payments
If you expect to owe more than $2,500 for the year, you must make quarterly estimated payments, each equal to at least 25 percent of your estimated annual liability. For most corporations, installments are due on the last day of the fifth, sixth, and ninth months of the tax year, and the last day of the tax year itself. June 30 fiscal-year corporations use the fourth, sixth, and ninth months, plus the last day of the year.7Florida Dept. of Revenue. Florida Form F-1120ES
How to File
The main form is F-1120. The short form F-1120A and extension form F-7004 can be filed through the Department of Revenue’s online portal. The long form F-1120 must be filed through the IRS Modernized e-File program using approved software.8Florida Dept. of Revenue. File and Pay Corporate Income Tax Corporations not required to file electronically may still submit paper returns by mail. You will need your Federal Employer Identification Number, your federal taxable income figure, and records of any Florida-specific additions and subtractions.
Penalties and Interest
Florida charges a floating interest rate on tax that is not paid on time, including late payments, underpayments, and missed estimated installments. For the first half of 2026, the rate is 11 percent annually, and it adjusts every six months.9Florida Dept. of Revenue. Tax and Interest Rates Separate penalties apply for filing late or failing to pay the full amount by the deadline. Interest accrues from the original due date, not any extended one, so a filing extension does not stop interest on unpaid tax.
Don’t Confuse the Tax Return with the Annual Report
Every corporation registered in Florida must also file an annual report with the Division of Corporations by May 1 each year. The filing fee for a for-profit corporation is $150, filing after May 1 triggers a $550 late fee, and failing to file at all can lead to administrative dissolution, with reinstatement costing $600 plus any unpaid annual report fees for missed years.10Florida Division of Corporations. Fees The annual report is a separate obligation from the tax return, even though both deadlines land around May 1 for calendar-year corporations.