Screen FLTPW - Florida Tax Projection (1120)

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Overview

Use this screen to enter information you expect to be different in the next year. The application uses this data to calculate the Florida Tax Projection Worksheet. This worksheet is based on current law and next year tax law differences (when known). Enter only the items you expect to be different for the coming year. If you don’t expect the amounts to be different for the coming year, the current-year amounts transfer to next year automatically. Any amounts marked with an asterisk (*) in Screen FLTPW don’t transfer automatically to the next-year column.

Tax and Payments

Income tax (Force)
The application automatically calculates the total tax for next year by applying the current year tax rates to the projected taxable income. Use this field to override this calculated amount, if needed.
2023
overpayment credited to
2024
(Force)
Enter the amount of current year overpayment that will be credited to next year. If this field is blank, the application defaults to the Estimated tax payments amount from the current year return.
2024
estimated payments (Force)
Enter the total number of estimated tax payments that are projected for next year. If this field is blank, the application defaults to the sum of any payments reported on Forms F-1120 ES - Declaration/Installment of Florida Estimated Income/Franchise Tax, plus any additional amounts paid that is reported under the Next year estimates already paid fields of Screen FLEst.

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