Florida taxes

Florida has no personal income tax, so individuals and sole proprietors owe the state nothing. LLCs and corporations still file an annual report every year by May 1: $138.75 for an LLC and $150 for a corporation, with a $400 late fee that Florida never waives. C corporations pay 5.5% corporate income tax on Florida income above $50,000.

Personal income tax

Florida has no personal income tax, so there is no Florida return to file for 2025 and no Florida tax on your wages, investments or business profit. The state constitution forbids a personal income tax unless the constitution itself is amended.

Florida does tax corporate income. That is a separate tax on corporations and never touches a personal return.

Sole proprietor

A sole proprietor with no LLC files nothing with Florida for the business and owes no fee. The annual report is only for registered entities.

With no personal income tax either, an unincorporated business has nothing to file with the state at all.

Single-member LLC

Every Florida LLC files an annual report with the Division of Corporations by May 1 to stay active, however few members it has and whether or not anything changed. The fee is $138.75, owed whatever the business earned.

Miss May 1 and a $400 late fee is added, which Florida will not waive for any reason, not even if the reminder never arrived. The report goes to the Division of Corporations, not the Department of Revenue. Florida has no personal income tax, so it does not tax the profit.

Partnership

A Florida partnership pays no Florida income tax. It files Form F-1065, the Florida partnership information return, only if one or more of its owners is a corporation.

An LLC, limited partnership or limited liability limited partnership also files the annual report by May 1, whatever it earned. An LLC pays $138.75 and a limited partnership pays $500. The same $400 late fee applies.

S corporation

An S corporation files Form F-1120, the Florida corporate income/franchise tax return, only in a year it pays federal tax on line 23c of its Form 1120-S. In other years it owes no Florida income tax.

It files the annual report and pays $150 by May 1 every year, whatever it earned, with the same $400 late fee if it is late.

C corporation

A C corporation files Form F-1120 and pays 5.5% of its Florida net income, after exempting the first $50,000 of it. So a corporation with $50,000 or less of Florida income owes no income tax. The exemption is one per controlled group of corporations, not one per company, and it shrinks for a tax year shorter than 12 months.

A corporation that also sells into other states counts only its Florida share. Florida measures that share with property, payroll and sales, with sales counted twice, not by sales alone. The $150 annual report is owed by May 1 every year as well.

Return

Form F-1120

Corporate income tax

5.5% of Florida net income

Exemption

The first $50,000 of Florida net income, shared across a controlled group

Multi-state profit

Property, payroll and sales, with sales counted twice

Annual report

$150, due May 1, with a $400 late fee

Estimate your state tax

Pick your business type and enter this year's numbers to see the state business tax Florida charges. It assumes all your sales are in Florida.

An estimate for planning, not tax advice.

Sources

• Florida Constitution, article VII, section 5(a): no tax on personal income without a constitutional amendment
• floridarevenue.com Corporate Income Tax: who must file
• floridarevenue.com Instructions for Form F-1120 (F-1120N R. 01/26), "Who Must File"
• dos.fl.gov Division of Corporations, File Annual Report: fees, due date and late fee
• floridarevenue.com Corporate Income Tax (rate table: "On or After 1/1/2022: 5.5%")
• floridarevenue.com Form F-1120 (R. 01/26), line 11 "Tax due: 5.5% of Line 10"
• floridarevenue.com Instructions for Form F-1120 (F-1120N R. 01/26), lines 9 to 11 and Schedule III-A

Last reviewed August 2026.