Florida State Tax Question for Sub-S corp

bchaines · ‎April 8, 2020

I'll make this brief. We are a Sub-S corp in Florida, no revenue yet (launching in a few weeks). We neglected (my fault) to file a 2018 state tax return. We are also pending filing our 2019 Florida state tax return (using Turbo Tax and will mail it). My questions:

Is there an extended tax filing deadline for 2019 Florida State taxes similar to the Federal extension and if so, what is that deadline? If there is not, I need to file ASAP and will be late. Along with that is the question do I need to file the missing 2018 Florida state income tax return before the 2019 is filed, or can I do it all at once , recognizing the 2018 will carry penalties, etc.

Hope that makes sense.

Thanks - Bruce Haines

tagteam · ‎April 8, 2020

Only S corporations that pay federal income tax on Line 22c of Federal Form 1120S are required to file a Florida Corporate Income Tax return (usually that would only apply if the corporation was previously a C corporation or if the corporation engaged in a tax-free reorganization with a C corporation).

See https://floridarevenue.com/taxes/taxesfees/Pages/corporate.aspx

bchaines · ‎April 8, 2020

I cannot believe I missed that. Let me be clear - we had no income so no Florida tax returns are needed, correct?

tagteam · ‎April 8, 2020

@bchaines Florida does not levy an individual income tax so no personal income tax return is required to be filed. With respect to S corporations, a return is required only in the limited circumstance mentioned in my previous post.

View solution in original post

DRH50 · ‎February 22, 2021

Hmm, then I wonder why TT Business is trying to sell me the Florida State return if I don't have to file one. We are a Sub-S corp too with passthrough income to the shareholders, no federal taxes paid by the corp. I'd hate to pay the $$ and then be told I don't have to file an FL State return after all...

tagteam · ‎February 22, 2021

@DRH50

There is also a Tangible Personal Property tax return (Form DR-405) if you use tangible personal property in connection with your business.

See https://floridarevenue.com/property/Pages/Taxpayers_TangiblePersonalProperty.aspx

Florida State Tax Question for Sub-S corp

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