How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask Lev Your Own Question
Lev
Lev, Tax Advisor
Category: Tax
Satisfied Customers: 28082
Experience:  Taxes, Immigration, Labor Relations
870116
Type Your Tax Question Here...
Lev is online now
A new question is answered every 9 seconds

S-corp formed and based in FL - does it require to file any

Customer Question

S-corp formed and based in FL - does it require to file any year end tax forms (besides annual report)? Such as F-1120?
Submitted: 1 year ago.
Category: Tax
Expert:  Lev replied 1 year ago.

Yes - for the first year - when you elect S-corporation tax treatment - the form F-1120 is required (you need to fill the informational portion of Form F-1120).
In following years, you are required to file Florida Form F-1120 ONLY if the S Corporation has federal taxable income.

If there is no federal taxable income - filing is not required.

Expert:  Lev replied 9 months ago.

For specific filing requirements - see here

http://dor.myflorida.com/dor/taxes/corporate.html

Who Must File?

S corporations that pay federal income tax on Line 22c of federal Form 1120S

.

I appreciate if you take a moment to rate the answer.
Experts are ONLY credited when answers are rated positively.
If you still have any doubts, need clarification - please be sure to ask.
I am here to help you with all tax related issues.