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Printable Form 1125-E Broward Florida: What You Should Know
This means you must file a 2024 (or later) Form 1125-E if you earned over a billion for 2017. Note: If you only report 2024 (or later) financial information, you are eligible for a non-profit corporation filing status under Section 501(c)(3)(D) regardless of if you make a profit or lose money. If you make a loss then you must file the 2024 (or later) 1125-E. Question. How much compensation must I report for 2017? Answer. If the corporation has total receipts of more than a billion (1,000,000,000) for tax year 2016 (October 1, 2016), 2017 (October 1, 2017), or 2024 (October 1, 2018), or (for corporations meeting both criteria) the corporation has total receipts of more than a billion (1,000,000,000) for tax year 2024 (October 1, 2018), the corporation must file Form 1125-E unless it meets the requirements of a 5 or 10-year holding period (see question number 2). The amounts reported must be for compensation paid to officers and other persons, not for business income and must include at least the following amounts: 1. All compensation related to the day-to-day work of the officers or other persons. 2. All salary, bonuses, fees, and other compensation directly related to any other activities and activities that require a person to attend a regular session of the corporation during a designated year. 3. Compensation for work performed in service to the corporation as: 1. A member of the board of directors or as a designated officer. A corporate officer when performing duties as provided by law and in compliance with the terms and conditions of the employment contract. 2. A member of the executive committee and such other person as the corporation in its reasonable discretion may identify. For purposes of this subdivision, “council member” means any officer of the corporation who resides at the corporation's principal office or who meets the requirements of a designated officer of the corporation (see question number 5).
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