Does Florida have a franchise tax?

Yes. A franchise tax, measured by net income, is imposed on banks and savings and loan associations. The tax is filed on ​a Florida Corporate Income/Franchise Tax Return (Florida Form F-1120), and the tax rate is:
  • 5.5% for taxable years beginning prior to January 1, 2019
  • 4.458% for taxable years beginning January 1, 2019 – December 31, 2020
  • 3.535% for taxable years beginning January 1, 2021 – December 31, 2021
  • ​5.5% for taxable years beginning on or after January 1, 2022

To learn more about Florida corporate income tax, visit the Department’s Florida Corporate Income Tax webpage​.

References: Sections 220.1105 and 220.63, Florida Statutes​​​​​
Category: General Tax
Sub-Category: Corporate Income Tax
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