Incorporating In Florida- You Incorporated, Now What

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It is no secret that incorporating in Florida is quite easy. All you have to do is to look for a credible consultant to help you incorporate online and you are all set to start your business. However, the task of incorporating in Florida does not end there. In fact, this is when the actual task begins.

It is obvious that when you are incorporating in Florida, your business will act as a single and separate entity. At this point, it is important to make sure that your company also operates so. Running a corporation is entirely different from running an independent business. Certain regulations and guidelines also have to be followed. Otherwise, you are most likely to face legal issues in future.

However, in order to make sure that you do not suffer from any such obstacles and that your start-up runs smoothly, it is crucial to take care of the following things once you are done with the task of incorporating in Florida. Are you ready to find out what is it you should do? If yes, start reading right away.

Step 01: Getting a Bank Account

After incorporating in Florida, the first thing you need to do is to get a bank account under your company’s name. Here it is important to specify that it is not possible that you switch a sole proprietor account into a corporation one. You have to open a new account. Opening an individual account will also be helpful as you will be able to keep better track of all your expenses.

Step 2: Getting a Merchant Account

Everyone knows that with the boom of ecommerce, most business is now conducted online. It is, therefore, important that you open a merchant’s account as well after incorporating in Florida as this will allow your customers to make online payments in case the need arises.

Step 03: Getting an Employer’s Identification Number

After incorporating in Florida, the law requires every business owner to get an EIN which is abbreviation for Employer’s Identification Number. However, get it only if you plan to hire others. If you are going to operate your business single-handedly, there’s no need to get one.  If you are going to hire hands, it will be useful getting an EIN as it will help you earn more credibility.

Step 04: Getting the Seller’s Permit

You will need a seller’s permit if you are selling taxable services. If you are going to operate in more than one location within the city, make sure you get individual licenses for each of these locations.

Step 05: Mandatory Dealings

After incorporating in Florida, your business will become public. This implies that you should fulfill the specific obligations such as holding meetings, filing reports, appointing directors, issuing stocks, so on and so forth. If you wish to avoid any legal issues in future, make sure you take care of all these obligations in a timely manner.

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.