31429763, 12C-1.051 - Florida Administrative Rules, Law, Code, Register

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Florida Department of State and Division of Library and Information Services

Notice: 31429763

Notice of Proposed Rule

Department:

DEPARTMENT OF REVENUE

Division:

Corporate, Estate and Intangible Tax

Chapter:

CORPORATE INCOME TAX

Overview

RULE:

12C-1.051

Forms

PURPOSE:

The purpose of the proposed amendments to Rule 12C-1.051, F.A.C. (Forms), is to update the annual forms; to adopt, by reference, revisions to forms 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, 2026, and F-2220, Underpayment of Estimated Tax on Florida Corporate Income/Franchise Tax, as amended or created by Chapter 2026-137, L.O.F., regarding amendments to ss. 220.03(1)(n) and (2)(c), F.S., updates the effective date of the Internal Revenue Code (I.R.C.) from January 1, 2025, to January 1, 2026, and removes the provisions rendered obsolete; creates s. 220.03(1)(n)2., F.S., to provide that amendments to sections 168(k), 174(a), 163(j), 274, and 179 of the I.R.C. of 1986, as amended by Pub. L, No. 119-21 (One Big Beautiful Bill Act (OBBBA)), are included in the definition of “Internal Revenue Code,” as amended and in effect by January 1, 2025; creates 220.03(1)(n)3., F.S., to provide that the amendments to sections 168(n) and 174A of the I.R.C. of 1986, as amended in OBBBA, are not included in the definition; amends s. 220.13(2), F.S., to exclude proposed provisions of ss. 220.13(1)(n) and (2)(c), F.S., as created in section 23 of the bill for purposes of determining a taxpayer’s taxable income; and provides that the amendments made to ss. 220.03 and 220.13, F.S., by the bill operate retroactively to January 1, 2026.

SUMMARY:

Draft amendment to four forms as amended by Chapter 2026-137, L.O.F., and to update these annual forms.

RULEMAKING AUTHORITY:

213.06(1), 220.183(4)(d), 220.1915(7), 220.196(4), 220.198(6), 220.1991(3), 220.51, 402.261(7)(a), 1002.395(12)(b) FS.

LAW:

119.071(5), 212.08(5)(p), 213.37, 220.03, 220.11, 220.12, 220.13(1), (2), 220.15, 220.16, 220.183, 220.184, 220.1845, 220.185, 220.186, 220.1875, 220.1876, 220.1877, 220.1878, 220.1895, 220.191, 220.1915, 220.196, 220.198, 220.199, 220.1991, 220.1992, 220.21, 220.211, 220.22, 220.221, 220.222, 220.23, 220.24, 220.241, 220.31, 220.32, 220.33, 220.34, 220.41, 220.42, 220.43, 220.51, 220.721, 220.723, 220.725, 220.737, 220.801, 220.803, 220.805, 220.807, 220.809, 402.261, 1002.395 FS.

PRINT PUBLISH DATE:

9/30/2026 Vol. 52/190

COMMENTS:

From 9/30/2026 To 10/21/2026 (21 Days)

REFERENCE MATERIALS:

Ref-17794 F-2220 - Underpayment of Estimated Tax on Florida Corporate Income/Franchise Tax
Ref-18772 F-1120: Florida Corporate Income/Franchise Tax Return
Ref-18773 F-1120N: Instructions for Corporate Income/Franchise Tax Return for taxable years beginning on or after January 1, 2025
Ref-20137 F-1120A: Florida Corporate Short Form Income Tax Return
Ref-20138 F-1120: Florida Corporate Income/Franchise Tax Return
Ref-20139 F1120N: Instructions for – Corporate Income/Franchise Tax Return for taxable years beginning on or after January 1, 2026
Ref-20140 F-2220: Underpayment of Estimated Tax on Florida Corporate Income/Franchise Tax

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