Florida Amended Florida Corporate Income/Franchise Tax Return with Instructions R.01/16
Extracted from PDF file 2021-florida-form-f-1120x.pdf, last modified December 2021
Amended Florida Corporate Income/Franchise Tax Return with Instructions R.01/16F-1120X R. 01/16 Amended Florida Corporate Income/Franchise Tax Return Reason for amended return: Amended federal return (attach copy) IRS audit adjustment (attach copy) Date of Revenue M M D D Y Y Agent Report Name Formerly known as (if applicable) (RAR) Other adjustment Address Type of return being amended: F-1120 F-1120A F-1120X Fill in applicable items and use Part II to explain any changes. 1. Federal taxable income 2. State income taxes deducted in computing federal taxable income 3. Additions to federal taxable income 4. Total of Lines 1 through 3 5. Subtractions from federal taxable income 6. Adjusted federal income (Line 4 minus Line 5) 7. Florida portion of adjusted federal income 8. Nonbusiness income allocated to Florida FEIN For tax Beginning M M D D As originally reported or as adjusted year: Ending Y Y M M D D Y Y Date last return filed: M M D D Y Y B. Correct amount (Attach amended schedules) , , , . , , , . , , , . , , , . , , , . , , , . , , , . , , , . , , , . , , , . , , , . , , , . , , , . , , , . , , , . , , , . , , , . , , , . , , , . , , , . F-1120X 9. Florida exemption 10. Florida net income (Line 7 plus Line 8 minus Line 9) A. Use black ink. Example A - Handwritten Example B - Typed 0 1 2 3 4 5 6 7 8 9 0123456789 Check here if negative Part I Check here if negative City/State/ZIP Rule 12C-1.051 Florida Administrative Code Effective 01/16 (Continued on reverse side) F-1120X R. 01/16 Florida Department of Revenue Amended Florida Corporate Income/Franchise Tax Return YEAR ENDING M M D D Y Y Check here if you transmitted funds electronically Total amount due from Line 19 Total credit from Line 20 Name Address City/St/ZIP Total refund from Line 22 , , , US DOLLARS , , , CENTS FEIN F-1120X 9100 0 99999999 0002005049 4 3999999999 0000 2 F-1120X R. 01/16 Page 2 B. A. Correct amount (Attach amended schedules) As originally reported or as adjusted 11. Tax due Check here if paying FL AMT , , . , , . 12. Credits against the tax , , . , , . 13. Total corporate income/franchise tax due , , . , , . 14. Penalty and interest (attach Florida Form F-2220 and/or schedule) , , . , , . , , . , , . , , . , , . , , . 19. Total amount due or overpayment (Line 15 minus Line 18). Enter on payment coupon, also. , , . 20. Credit: Enter amount of overpayment credited to ______ estimated tax here and on payment coupon. , , . 21. Offset: Enter amount of overpayment to be offset. , , . , , . 15. Total of Lines 13 and 14 16. a) Estimated payments______________________ b) Tentative payment____________________ c) Tax paid with or after return________________ Total 17. a) Credit___________________________________ b) Refund______________________________ if any shown on last return, or as later adjusted Total 18. Total payments (Line 16 minus Line 17) Year 22. Refund: Enter amount of overpayment to be refunded here and on payment coupon. Contact person: _____________________________________ Telephone number: (_______ )______________________ Contact person email address: _________________________________________________________________________ Part II — Explanation of changes to income, deductions, credits, etc. Attach separate sheet if needed. To expedite processing, please indicate if this tax year has been previously audited by the Department; include the service notification (audit) number. Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and belief, it is true, correct, and complete. Declaration of preparer (other than taxpayer) is based on all information of which preparer has any knowledge. Sign here Title Signature of officer (must be an original signature) Paid preparer only Preparer’s signature Date Date Firm’s name (or yours if self-employed) and address Preparer check if selfemployed Preparer’s Tax Identification Number (PTIN) FEIN ZIP This return is considered incomplete unless a copy of the federal return is attached. A return that is not signed, or improperly signed and verified, will be subject to a penalty. The statute of limitations period will not start until the return is properly signed and verified. This return must be completed in its entirety. Instructions for Preparing Form F-1120X Amended Florida Corporate Income/Franchise Tax Return Corporate income tax is imposed by section (s.) 220.11, Florida Statutes (F.S.). You must use Florida Form F-1120X to correct a tax return that you previously filed on Florida Forms F-1120 or F-1120A. Use Florida Form F-1120X to correct your return as originally filed or as later adjusted by an amended return, a claim for refund, or an examination. Note: Florida law does not allow net operating loss carrybacks or capital loss carrybacks. You must attach a copy of any schedule, form, or statement filed with the federal form that is applicable to your Florida Form F-1120X. A claim for refund is subject to audit verification and must be supported by proper documentation demonstrating the IRS has accepted the amended return and paid the refund so the Department of Revenue can process your claim. Such documentation might include a copy of the IRS letter approving F-1120XN R. 01/22 Rule 12C-1.051, F.A.C. Effective 01/22 Page 1 of 2 Provisional the refund or a copy of the refund check. You might also need a copy of the IRS transcript. When to file – You may file Florida Form F-1120X only after you have filed the original return. You should file Florida Form F-1120X as soon as there is a change in the taxable income reported on your original return. Generally, you must file a refund claim within three years. Time Limitations – You have 60 days to file Florida Form F-1120X after the adjustments to your federal taxable income have been agreed to or finally determined. These adjustments to your income may occur through a federal tax audit or a federal amended return. Per s. 220.23(2)(d), F.S., you must file a refund claim based on a federal audit adjustment within two years after the required Florida Form F-1120X filing date, whether or not you filed the Florida Form F-1120X. Specific Instructions Enter the current name and address of your corporation. If the corporation’s name has changed since you filed the original return, write the previous name of the business on the line marked “Formerly known as.” If the name has not changed, leave this line blank. Check the reason you are filing an amended return. If it is the result of an amended federal return, attach a copy. If it is the result of an Internal Revenue Service (IRS) audit adjustment, attach a signed, dated copy of IRS Form 4549-A (Income Tax Examination Changes) or other document evidencing the completed audit. Form 4549-A is also referred to as a Revenue Agent Report (RAR). Enter the date of the IRS report. Check the box showing the type of return that you are amending. Record the Federal Employer Identification Number (FEIN) of the corporation. Enter the beginning and ending dates of the tax year for which you are filing an amended return. Enter the date of the last return filed for your corporation. Part I Enter all data in Part I of Florida Form F-1120X. You may need attachments to support the entries in Part I. Attach an appropriate updated Florida Form F-1120 schedule if there are changes. Any substitute schedules must contain all the required information and follow the format of the Department’s printed schedules. Include the corporate name and FEIN on all attachments. Incomplete or missing information on Florida Form F-1120X may cause processing delays. The line numbers on Florida Form F-1120X correspond to line numbers of the Florida Form F-1120, with a few exceptions. We outline these exceptions below. In Column A, enter the specified amounts from Florida Forms F-1120 or F-1120A as originally reported or later adjusted. In Column B, enter the corrected amount. Line 11 – Compute Corporate Income/Franchise Tax Due. Multiply Line 10 by the tax rate applicable to the taxable year end. However, taxpayers that paid Florida Alternative Minimum Tax (AMT) and taxpayers subject to the Florida AMT (taxable years beginning before January 1, 2018 repeal of AMT) because of federal adjustment should compare “regular” Florida tax, on Page 1 of Florida Form F-1120, to the Florida AMT due on Schedule VI of Florida Form F-1120. The taxpayer is liable for whichever is greater, and should enter this amount on Line 11. In column A on Line 11, include any emergency excise tax as originally reported or as later adjusted prior to your tax year beginning on or after January 1, 2012. Emergency excise tax adjustments are no longer necessary on an amended return because emergency excise tax was repealed and all amounts previously reported and paid have been converted to credits. Line 13 – Total Corporate Income/Franchise Tax Due. Subtract Line 12 from Line 11. Line 16 – Payments. On Line 16a, enter the amount of estimated tax payments including any allowed overpayment credit from the prior year. On Line 16b, enter the amount of any tentative tax payments sent in with Florida Form F-7004. On Line 16c, enter the amount of any tax paid with the return and any tax paid after you filed the original return. If you paid tax as the result of an audit, include proper documentation. Line 19 – Total Amount Due or Overpayment. Subtract Line 18 from Line 15 and enter the difference of tax due or overpayment. If this line reflects tax due, also enter this amount in the space provided on the front of the payment coupon. Make any check payable to the Florida Department of Revenue. Lines 20 through 22 – Overpayment. Indicate how you wish to apportion your overpayment: • Enter on Line 20 the amount of overpayment from Line 19 that you want credited to estimated tax, • Enter on Line 21 the amount of overpayment from Line 19 to be offset against underpayments for other years if amended returns are also being filed for other years, and/or F-1120XN R. 01/22 Page 2 of 2 • Enter on Line 22 the amount of overpayment from Line 19 you want refunded. Sub S corporations must include the Notice of Acceptance as an S Corporation from the IRS if it has not been included with previously filed returns. Part II – Explanation of Changes to Income, Deductions, Credits, etc. (Use the space provided and/or attach additional sheets.) Enter the line reference for which a change is reported. Give the reason for each change. If the change involves an item of income, deduction, or credit that Florida Form F-1120 or its instructions requires you to support with a schedule, statement, or form, attach the correct schedule, statement, or form to this Florida Form F-1120X. Explain any computational changes and attach supporting schedules. • Federal employer identification number (FEIN), and • Preparer tax identification number (PTIN). Where to Send Payments and Returns Make check payable to and send with return to: Florida Department of Revenue 5050 W Tennessee St Tallahassee FL 32399-0135 If you are requesting a refund (Line 22), send your return to: Florida Department of Revenue PO Box 6440 Tallahassee FL 32314-6440 Explain any changes in the apportionment fraction used on the original return. Use Schedules III and IV of Florida Form F-1120 to recompute the apportionment fraction and to determine the Florida portion of adjusted federal or net income. Attach these schedules to Florida Form F-1120X. Signature and Verification An officer of the entity who is authorized to sign for that entity must sign all returns. An original signature is required. We will not accept a photocopy, facsimile, or stamped signature. A receiver, trustee, or assignee must sign any return you are required to file on behalf of your organization. Any person, firm, or corporation who prepares a return for compensation must also sign the return and provide: Remember ü Make your check payable to the Florida Department of Revenue in US dollars. ü Write your FEIN on your check. ü Sign your check and all returns. ü Attach your signed, dated copy of IRS Form 4549-A and/or other required documents. Contact Us Information, forms, and tutorials are available on the Department’s website at floridarevenue.com To speak with a Department representative, call Taxpayer Services at 850-488-6800, Monday through Friday (excluding holidays). To find a taxpayer service center near you, visit floridarevenue.com/taxes/servicecenters For written replies to tax questions, write to: Taxpayer Services – MS 3-2000 Florida Department of Revenue 5050 W Tennessee St Tallahassee FL 32399-0112 Subscribe to our tax publications to receive due date reminders or an email when we post: • Tax Information Publications (TIPs). • Proposed rules, notices of rule development workshops, and more. Visit floridarevenue.com/dor/subscribe References The following documents were mentioned in this form and are incorporated by reference in the rules indicated below. The forms are available online at floridarevenue.com/forms. Form F-1120X Amended Florida Corporate Income/Franchise Tax Return Rule 12C-1.051, F.A.C. Form F-1120 Florida Corporate Income/Franchise Tax Return Rule 12C-1.051, F.A.C. Form F-1120A Florida Corporate Short Form Income Tax Return Rule 12C-1.051, F.A.C. Form F-7004 Florida Tentative Income/Franchise Tax Return and Application for Extension of Time to File Return Rule 12C-1.051, F.A.C.
More about the Florida Form F-1120X Corporate Income Tax TY 2021
We last updated the Amended Florida Corporate Income/Franchise Tax Return with Instructions R.01/16 in March 2022, so this is the latest version of Form F-1120X, fully updated for tax year 2021. You can download or print current or past-year PDFs of Form F-1120X directly from TaxFormFinder. You can print other Florida tax forms here.
Other Florida Corporate Income Tax Forms:
|Form Code||Form Name|
|Form RT-6||Employer's Quarterly Report with Payment Coupon|
|Form F-1120||Florida Corporate Income/Franchise Tax Return|
|Form F-1120N||Instructions for Preparing Form F-1120|
|Form DR-1||Florida Business Tax Application|
|Form RT-6N||Employer's Quarterly Report Instructions for the RT-6 and RT-6A R.12/15|
Florida usually releases forms for the current tax year between January and April. We last updated Florida Form F-1120X from the Department of Revenue in March 2022.
About the Corporate Income Tax
The IRS and most states require corporations to file an income tax return, with the exact filing requirements depending on the type of company.
Sole proprietorships or disregarded entities like LLCs are filed on Schedule C (or the state equivalent) of the owner's personal income tax return, flow-through entities like S Corporations or Partnerships are generally required to file an informational return equivilent to the IRS Form 1120S or Form 1065, and full corporations must file the equivalent of federal Form 1120 (and, unlike flow-through corporations, are often subject to a corporate tax liability).
Additional forms are available for a wide variety of specific entities and transactions including fiduciaries, nonprofits, and companies involved in other specific types of business.
Historical Past-Year Versions of Florida Form F-1120X
We have a total of eleven past-year versions of Form F-1120X in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:
While we do our best to keep our list of Florida Income Tax Forms up to date and complete, we cannot be held liable for errors or omissions. Is the form on this page out-of-date or not working? Please let us know and we will fix it ASAP.