Florida Corporate Income Tax 2018 and 2019 Taxable Years Reporting of Additional Required Information

The Florida Department of Revenue issued TIP No: 19C01-03 “Florida Corporate Income Tax 2018 and 2019 Taxable Years Reporting of Additional Required Information” on August 26, 2019. Every filer of Florida Form F-1120 or F-1120A for any taxable year beginning during either calendar year 2018 or 2019 is required to provide additional information to the Florida DOR online at floridarevenue.com. The additional information is due the earlier of 10 days after the extended due date of the Florida corporate income/franchise tax return or 10 days after the tax return is filed. If the tax returns have already been filed or the extended due date is prior to September 3, 2019, the due date for the additional information is September 3, 2019. Failure to submit the information timely can result in a penalty of $1,000 or 1% of the tax due, whichever is greater. The Florida DOR has noted that Hurricane Dorian may affect some taxpayers’ ability to comply with this requirement and will have the authority to settle penalties on a case by case basis. Please see TIP No: 19C01-03 for more information.