Incorporating A New Business In Florida
Sunny Florida is the perfect place to set up your new business venture. In Florida, there are no residency restrictions regarding the company’s owner(s), so everyone is welcome to set up shop as they please! However, be aware that there must be a registered agent in the State for service of process. Be sure to hire agents who have your best interest at heart and are straightforward so you can feel assured regarding transparency and honesty. You can even get all these done right from the comfort of your home as they can mail you the documents for signature and reading.
How To Register A Business In Florida
On the other hand, you might already have a business, and you're planning to register it within Florida. We all know that registrations can’t happen without legal paperwork. This is why it’s highly recommended that you hire a lawyer who specializes in business legalization in order to make sure that you’re following all legal expectations. Part of the registration process will include registration of necessary occupation licenses, such as the leasing of a physical office and storefronts. It’s important that you understand every form you sign and make negotiations on the terms of the commercial lease if you’re planning to have a physical store or office.
How to Open an LLC In Florida
We bet you are ready to get started, but before you do, have you decided on what type of business you want to create? If you are going with an LLC, or Limited Liability Company, there are a number of steps you need to follow. If you’re asking yourself how to start an LLC in Florida, we’ve got you covered. Below are the five simple steps that will get you on track to start setting up an LLC in Florida.
- Choosing Your Name: The first step of starting an LLC in Florida is choosing a name for your business. You may love one name in particular but then find out through official searches that the name is already taken within the state. Similarly, there could be other businesses within or outside of your niche that have very similar names to the one you want. To avoid any problems, make sure you do your research and explore through the Florida Department of State Division of Corporations website before you make a decision. Remember that the most important thing about creating a brand is to stand out from the crowd. Think of several alternatives that resonate with your mission and corporate identity and select the one that you feel most identified with.
- Filing/Registering Your LLC: After deciding on a name that is both unique and available, the next step for creating an LLC in Florida is to file the official registration paperwork. Filing may be completed with e-filing at Efile.SunBiz.Org, or via mail. Registration fees for starting an LLC in Florida are around $100 for the filing itself, plus an additional $25 for the registered agent filing, which is also required. Any corrections, revisions, documents, or reports will have additional fees, so keep that in mind when you get to this step.
- Obtaining your Federal EIN: Now that you've begun the process of creating an LLC in Florida, you need to get your Federal EIN, or Employer Identification Number. This is used for taxation purposes and any other Federal documents or needs. This step is highly important because without an EIN, you won’t be able to hire any employees or even open a bank account for your business. If your business involves selling a physical product, you’ll need to register for Florida Sales Tax and if you’ll need to hire employees you’ll have to register for Florida Reemployment Tax. Again, here’s where hiring a lawyer will be very helpful in establishing the exact registrations your business will need.
- Check For Permits and Licenses: In the State of Florida, the majority of counties require businesses to obtain local tax permits or receipts, and potentially other local permits and licenses. More information on what is required based on your specific business is available at several online resources, including StateofFlorida.com, Dos.State.FL.US, and Leg.State.FL.US.
- Open a Bank Account: Now that you've filed your registration and obtained your Federal EIN, you’ll also need to get a bank account created to handle your expenses and earnings. Once you've done that, you're ready to begin operation.