Table 6.1  CORPORATE INCOME TAX
Florida State Corporate Income Tax Facts*
Rate	5.50%
Tax Base	Taxpayer's federal taxable income with certain modifications, refer to your tax adviser
Exemption	Up to $5,000 is subtracted to compute net taxable income. Please refer to your tax adviser
Tax-exemption	Subchapter S-corporations, Limited Partnerships (not owned by at least once corporation), and tax-exempt organizations generally do not pay the State Corporate Income Tax. Please refer to your tax adviser.
*  This fact sheet for reference use only, please consult your tax adviser.
Source: Florida Department of Revenue
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