Florida Dept. of Revenue - Chapter 12C-1: Corporate Income Tax (2023 Annual Forms)

Florida Proposed Rules

Rule Number: Rule Title

12C-1.051

Forms

Next Step:

At the September 18, 2023, meeting, the Governor and Cabinet approved the publication of the Notice of Proposed Rulemaking and subsequent adoption of the proposed rules if the substance of the proposed rules remained unchanged upon reaching the date applicable to filing for final adoption pursuant to s. 120.54(3)(e)2., F.S. No substantive changes were made to the rules and the Department filed the rules for certification with the Department of State on December 12, 2023. These rules went into effect on January 1, 2024.

Forms:

F-1065: Florida Partnership Information Return
F-1065N: Instructions for Preparing Form F-1065 Florida Partnership Information Return
F-1120: Florida Corporate Income/Franchise Tax Return
F-1120A: Florida Corporate Short Form Income Tax Return
F-1120N: Instructions for - Corporate Income/Franchise Tax Return for taxable years beginning on or after January 1, 2023
F-1193T: Notice of Intent to Transfer a Florida Tax Credit -Corporate Income Tax
F-2220: Underpayment of Estimated Tax on Florida Corporate Income/Franchise Tax

Final Language:	January 1, 2024
Certification Package:	December, 12, 2023
Certification Letter to JAPC:	December, 4, 2023
Hearing Information:	October 12, 2023 [Canceled, no request received]
Package Filed with JAPC:	September 19, 2023
Notice of Proposed Rule:	September 19, 2023 (Vol. 49, No. 182)
Cabinet Meeting for Hearing:	September 18, 2023
Notice of Public Meeting - Cabinet for Hearing:	September 12, 2023 (Vol. 49, No. 177)
Workshop Information:	July 27, 2023 [Canceled, no request received]
Draft Rule Language:	July 27, 2023
Notice of Rule Development:	July 12, 2023 (Vol. 49, No. 134)

Purpose: The purpose of the proposed amendments to Rule 12C-1.051, F.A.C. (Public Use Forms), is to incorporate, by reference, updates to Florida corporate income/franchise tax returns and instructions to reflect law changes allowing for reporting tax credits under the Live Local Program (ss. 21 and 41, Ch. 2023-17, L.O.F.), the Qualified Railroad Reconstruction or Replacement Expenditures (s. 32, Ch. 2022-97, L.O.F.), and for equipment used in Manufacturing of Human Breast Milk Derived Human Milk (s. 33, Ch. 2023-157, L.O.F.), and to reflect renaming the Experiential Learning Tax Credit Program (s. 4, Ch. 2023-81, L.O.F.). The proposed changes to instructions for preparing the Florida Partnership Information Return add information for filing the return electronically. The proposed changes to the form used to notify the Department of intent to transfer certain Florida corporate tax income tax credits removes reference to the obsolete Florida Renewable Energy Production Credit.