(1) Florida Statutes § 220.211, imposes a penalty for filing an “incomplete return”. For tax returns due before January 1, 1993, this penalty is $150 or 5 percent of the tax finally determined to be due, whichever is greater, not to exceed $5,000. For tax returns due on or after January 1, 1993, this penalty is $300 or 10 percent of the tax finally determined to be due, whichever is the greater; however, such penalty shall not exceed $10,000.
    (2) An “incomplete return” is a return which lacks uniformity, completeness, and arrangement such that the Department cannot readily accomplish the physical handling, verification, or review of the return. Such returns include, but are not limited to, those returns to which any one of the following conditions apply:
    (a) Failure to complete an appropriate line item on page 1 of F-1120;
    (b) Failure to provide an appropriate schedule for a line item on page 1 of F-1120;
    (c) Failure to provide the required data on supporting schedules;
    (d) Use of facsimile reports which are not in the same format as the F-1120;
    (e) Failure to attach pages 1 through 4 of federal form 1120 or other specifically required federal form;
    (f) Failure to attach any of the following when required:
    1. Federal Forms 851 or 1122.
    2. Federal Form 1120X or copy of a Revenue Agent’s Report (RAR).
    3. Federal Form Schedule D.
    4. Federal depreciation schedule on Form 4562.
    5. Explanation for adjustments on Schedules M-1 and M-2.
    6. Florida balance sheet if different from balance sheet on Federal return and schedule reconciling differences.
    7. Any other required schedule or statement for explanation of an entry on a line item of the Florida corporate return, Form F-1120.
    8. Failure to include the FEI number of the corporate entity.
    9. Federal Form 4626.
    10. Omission of any other material item.
Rulemaking Authority 213.06(1), 220.21, 220.51 FS. Law Implemented Florida Statutes § 220.211. History—New 12-21-88, Amended 4-8-92, 5-17-94.