Formula Twelve (more commonly known as Formula 12 or F12) is the highest class of international racing for open-wheel single-seater formula racing cars sanctioned by the Torland Auto Racing Association (TARA). The TARA Formula Twelve World Championship has been one of the premier forms of racing in Torland since its inaugural season in 1972. A Formula Twelve season consists of a series of races, known as Grands Prix. Grands Prix take place in multiple states and areas around Torland on either purpose-built circuits or closed public roads.

A points system is used at Grands Prix to determine two annual Championships: one for the drivers called the Worthy Cup, and one for the constructors (the teams) called the Calhoun Cup. Each driver must hold a valid Super Licence, the highest class of racing licence issued by TARA, and the races must be held on tracks graded “1”, the highest grade-rating issued by TARA for tracks.

Formula Twelve cars are some of the fastest regulated road-course racing cars in the world, owing to very high cornering speeds achieved through generating large amounts of aerodynamic downforce. Much of this downforce is generated by front and rear wings, which have the side effect of causing severe turbulence behind each car.

The average annual cost of running a team, including designing, building and maintaining cars, salaries, and transport make the sport very difficult to participate and sustain but the fan following is massive.

• Category: Open-wheel single-seater
• Country: Torland
• Headquarters: San Ferrio, Maienzona
• President: Grover Calhoun
• Vice President: Steve Dent
• Inaugural Season: 1972
• Drivers: 24
• Teams: 12
• Chassis Manufacturers: 12
• Engine Manufacturers: 8
• Tire Suppliers: Bisson, Goodwin, Yaeger
• Drivers' Champion (Worthy Cup): (unknown)
• Constructors' Champion (Calhoun Cup): (unknown)

By the early 70's auto racing was becoming popular in Torland, particularly in Maienzona where several hubs of racing groups had begun to grow. A retired Maienzona racing icon known as “Papa Worthy” began to gather racing groups and automotive manufacturers to form the Torland Auto Racing Association (TARA) and discuss founding a league similar to Formula One which had grown exponentially in Europe. Weston “Papa” Worthy Sr., proposed a season of twelve race teams across twelve tracks through state-hosted grands prix to determine champions in driving and constructing.

By 1971, several racing development teams of Torland's top automotive companies had gotten on board, including Alpite and Parion, two of the largest in the country. With the number twelve everywhere, the league was jokingly dubbed “Formula Twelve” which stuck despite Papa Worthy's reservations. The league was building momentum as the San Ferrio-based company Goodwin Tires threw their hat in the ring. Soon after Bisson Tires and Yaeger Tires also cast their allegiance and began recruiting teams to use their tires. Prominent businessman Grover Calhoun decided to invest in the league and he was named president of Formula Twelve. Another retired race car driver with investment experience named Steve Dent was added as vice president. With Calhoun and Dent handling business and getting it operational, Papa Worthy was able to focus on racing.

Calhoun and Dent scoured Torland's available circuits for suitable locations for Formula-style racing and narrowed down a dozen strong candidates for a first season, including several iconic venues, along with another dozen being readied by cities and states to make bids for Grands Prix. Each of the 11 states would host a Grand Prix along with a twelfth and final Grand Prix, called the Worthy Cup Grand Prix, which would be on an at-bid rotation and include the seasonal awards ceremonies. The Drivers' Champion would be called the Worthy Cup and the Constructors' Champion would be called the Calhoun Cup.

Each race would be 48 laps except for the final race which would be 72 laps. The season would begin the first weekend after Revolution Day (March 3rd) and end the first weekend of September with a typical schedule of a race every other week, with two extended breaks after the fifth and tenth races. Races would be held over a weekend, typically Friday thru Sunday, except in cases of inclement weather. Practices and qualifiers would be held on Friday and Saturday and the race on Sunday. Each team would have two cars and drivers. The top eight finishers would receive points, with the podium finishers receiving the most points in a 10-8-6-5-4-3-2-1 format. Each team would be required to build their own custom chassis but were free to use any engine and tires manufactured directly in Torland.

A Formula Twelve constructor is the entity credited for designing the chassis and the engine. If both are designed by the same company, that company receives sole credit as the constructor. If they are designed by different companies, both are credited, and the name of the chassis designer is placed before that of the engine designer. All constructors are scored individually, even if they share either chassis or engine with another constructor.

Formula Twelve teams are required to build the chassis in which they compete, and consequently the distinction between the terms “team” and “constructor” is less pronounced, though engines may still be produced by a different entity. F12 does not support privateers. Due to high costs, league involvement often comes in the form of a “factory team” or “works team” (that is, one owned and staffed by a major car company), such as those of Alpite, Parion, or Am-Electro.