Florida Corporation Filing Deadline

Every year, at some point, business owners start rushing with figures so that they do not miss out the Florida Corporate tax filing deadline.  It is mandatory to file the corporate tax well before the last date in the tax season. 

The state deadlines vary, yet it is best to check for the applicable deadlines applying for your business. Florida business tax returns after the tax year end (May 1 for taxpayers as calendar year) is due by the 5th month 1st day. On the 15th day, there is non-extension deadline to pay as the Federal tax return. This is on May 15, in case, the Federal return is due on May 1, or anything later.

Corporate Income Tax

Filing a return is a must. Thus, Florida corporate income tax filing deadline should be given importance. Even if there is no tax due, it is right to file a return before the deadline. Individuals, sole proprietorships, testamentary trusts, and estates of decedents are excluded. They need not file a return. The S corporations are exempted unless you owe the federal income tax. The Florida corporate income tax is 5.5%.

C-corporation income tax returns 

The C Corporation income tax returns deadline is the fourth month 15th day after the fiscal year end, in case the corporation is based on a fiscal year.

Missing the deadline?

The rule as per the IRS is to file your return at the earliest so that you do not skip a deadline. In case you owe taxes, ensure to pay as soon as possible. You will hit a moderate penalty financially to pay, if you have an extra interest charge. There is a need for the IRS to accept money and the return filing.

In case you owe money and have no intention to send a check or to do the payment to the IRS via snail mail, besides you take away all the extra time provided, it means you must go for IRS Direct Pay and do the payment directly such that it is debited from your bank account straight. You may e-file the late return in case you are within the deadline period. The taxpayers can pay at IRS Free file and IRS accepts until Oct.15, e-filed returns.

In case, you are unable to pay the tax immediately that you owe, just do not delay. File the return and apply for instalment agreement. In this way, you can ask for some more time, the IRS will allow you to pay until you make arrangements.