Step by Step Guide for Starting a Business in Florida

 

Florida is the third biggest U.S state by population and is home to the best beaches and big cities on the east coast. There are several reasons entrepreneurs think about opening up a business in Florida. Since the state has low business taxes and relaxed rules and regulations, investors are interested in incorporating their business in the Sunshine State.

Furthermore, as a populous state, your company can have a lot of potential business opportunities. If you're thinking to incorporate your business in Florida, there are company incorporation services in the state that can help you register your business.

As the process can be complex, we have compiled a step-by-step guide to help you incorporate your business in Florida. However, it is also advised to consult a reliable registered agent to fully understand the legal requirements of opening a company in Florida.

Choose Your Business Structure

Choosing the type of entity you would operate as is the first step toward business incorporation. The type of business structure you choose will depend on the industry you work in because some businesses require a specific structure.

Common types of business structures are

· Corporation

· Sole Proprietorship

· Limited Liability Company (LLC)

· Partnerships

All these business entities have different tax implications; therefore, choose a business structure that suits your business needs.

Register With Relevant Departments.

The next step will be to register your company with the Department of State. The department will require the relevant documentation to incorporate your business in Florida. You'll be required to submit the Articles of Association and hire a registered agent to help register your business.  

You also need to register with the Department of revenue to pay your sales tax, as well as your corporate income tax.

Register Your Business Name

The Fictitious Name Act requires you to register a "Doing Business As" (DBA) name before starting your business operations. You can find more information about the DBA requirements on the Florida DOS website. You can get an exemption from filing the DBA name if you meet the relevant criteria.

Obtain an EIN

An EIN is considered to be a social security number for a business. You need it to open up a business bank account, apply for loans, and apply for relevant business licenses. It also helps to hire employees without any hassle.

These steps can help you lay the foundations of a successful business in Florida. However, a professional business incorporation service can further simplify the process for you.

 If you are a resident or an out-of-state entrepreneur thinking about incorporating a business in Florida, then Corporations4less can help you register one.

They provide various services and have experts who can guide you with your business needs. Corporations4less also offers to help buy aged  and shelf corporations, and business incorporations services in Florida.

You can visit their website at https://www.corporations4less.com/.