Incorporate in Florida
If you want to incorporate in Florida you need to know that Incorporation is a business structure where the general public is allowed to buy shares of an organization. Usually, this type of business can manage to take on bigger risks, which takes the company to new heights without having stakeholders being exposed to financial liability other than their investment into the company.
The state of Florida has many small and medium enterprises, we see the state advancing in a procedure that allow companies to go pubic swiftly. To incorporate in Florida is a benefit to your venture because of the pro-business regulatory atmosphere, stable economy and an established tax system.
Besides this, the government is very supportive to business growth and encourages an environment which is conducive to expansion. For example, there are special sites and zones which are free from local as well as state taxes which give organizations more room for development and growth. Incorporating in Florida protects shareholders from business liability, gives them privacy of information and enhanced confidentiality, and support against law suits.
The Time it Takes to Incorporate in Florida
One you have filled in an online application form, it will be submitted to the State of Florida Department of Corporations. The department will email you your official documentation by the next working day. The entire process of incorporation in Florida takes two working days.
There are several websites online providing services of incorporating in Florida in a matter of few clicks. There are websites owned and operated by the government and there are private consultants and agents that may help you with the process. A lawyer might be able to go through the website, understand it, and stumble through the webpage to incorporate successfully. However, for the general public, it might be a little hard to use the website since it is not user friendly. Mistakes occurred could take a lot of dollars to be fixed back to the original.
Incorporate in Florida for Tax Benefits
Florida does not have a corporate franchise tax. This tax is usually placed on capital stock otherwise. Florida lets go of a lot of taxes for incorporations. For example, there is no use or sales tax placed on goods that are manufactured in Florida for export. Likewise, there is property tax assessment and much the same; there is no tax on inventories either.
Incorporate in Florida for Flexibility
Incorporating in Florida is easier because of the flexibility the state gives in terms of management and capital. The state does not put forward a capital requirement for a business to turn into incorporation, but it is always encouraged for an organization to have a surviving capital level. In order for the organization to survive and thrive amidst so much competition, lack of initial capital could be a back lash for the company. In addition, as per the law, incorporations in Florida only require one director to run the operations. The same director can be the president, the treasurer, the secretary or any other role he or she finds it necessary to be in.
Florida is known for the sun, the sand and the beauty. It is an ideal tourist destination and one of the highest revenue generating state in the country. Florida is however, also famous for business. Incorporating in Florida provides an excellent business environment. Whether you choose to start as a sole trader or form an LLC in Florida, the business friendly policies will make it easier for you to start or relocate your business.
Incorporate in Florida Now
If you’re ready to incorporate in Florida, you have made the right decision. You can choose what type of business you want to form online and get to know what their benefits are.
- S Corporation or C Corporation
- Limited Liability
- Fictitious Name (DBA)
Incorporation in Florida offers you the 4th largest labor force in the country, and the 15th largest economy in the world. It is a great place to start a business and succeed. The government incentives, low initial capital requirements and infrastructure are up there with other high tech states like New York, California, etc.
Reasons to Incorporate in Florida
Tax Regulations – LLCs in Florida do not require tax filing. Profits and losses incurred can be passed on to personal income tax return. This avoids double taxation. S Corporations are non taxable entities. You can save tax money on your first year of operation. Other taxes are also generally low.
Minimal Capital Requirements – There is no minimum limit requirement to initial capital and running capital. This can help you in investing that money for marketing and other purposes you desire.
Fewer Regulations – The process of starting a business in Orlando Florida has expedited regulations. There is less paper work and processes involved.
Business Environment – The business friendly state of Florida require the lowest annual fees and fewest corporate liabilities in the country.
Florida Corporation and its Benefits
Incorporating in Florida makes your business a separate legal entity. Starting a business in Orlando, Florida requires completing articles of incorporation, paying incorporation fees, filing to the state and receiving acceptance by the Secretary of State. Once this process is complete, you can enjoy these various benefits
Personal Asset Protection – Members of corporations in Florida are not personally liable to debts. Creditors are not allowed by law to pursue your personal assets.
Profit Flexibility – Unlike most partnerships, where the general share of profits is 50-50, incorporating in Florida allows you to divide profits the way you want. This does not relate to the share in the corporation.
Raising Investment Money – Corporation shares are easily transferable in Florida, making it easier to raise capital and investment. You can also raise capital by selling stock
Less legal requirements – Florida has a business friendly court system. You are not required to keep records of stock owners. Besides annual meetings, you do not have to complete mandatory minute meetings and other obligations. The State of Florida allows corporations to conduct all lawful business activities.
With the state working on making business startups even easier, incorporate in Florida today and live your dream of “being your own boss”.
If you need more information about our business development services, please contact us at 407-344-1228. FreedomSBS is a marketing, graphic & web design, accounting, internet marketing, business development, and corporate law resource firm all in one! FreedomSBS is your one stop shop to start, grow and mature your business. Our services include: incorporation services, graphic design, logo design, web design, web development, internet marketing, search engine optimization (SEO), marketing consultations and corporate law resources. Our services are provided nationwide, but since our main office is located in Kissimmee, FL, we mainly help businesses in the Central Florida market to areas like Orlando, South Orlando, Kissimmee, St. Cloud, Poinciana, and Hunters Creek, FL.