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what is the corporate tax rate in florida?
30Mar2008 Filed under: Careers & EmploymentQuestion:
what is the corporate tax rate in florida?
Answer:
Tax Base and Rate
Florida corporate income tax liability is computed using federal taxable income, modified by certain Florida adjustments, to determine adjusted federal income. A corporation doing business within and without Florida may apportion its total income. Adjusted federal income is apportioned to Florida using a three-factor formula. The formula is a weighted average, designating 25 percent each to factors for property and payroll, and 50 percent to sales. Nonbusiness income allocated to Florida is added to the Florida portion of adjusted federal income. An exemption of up to $5,000 is subtracted to arrive at Florida net income. Tax is computed by multiplying Florida net income by 5.5 percent.
Resource related business question and answer:
Florida Department of Revenue home page
The Department issues guidance on the waiver of corporate income tax penalties related to ... from an Internet retailer or catalog merchant and did not pay Florida sales tax, you may ...FL Dept Rev - Florida's Corporate Income Tax
Florida Department of Revenue - Florida's Corporate Income Tax ... Return for Homeowners Associations) is filed, a Florida return is not required. Tax Base and RatePeople Also View other Questions
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