
Frequently Asked Questions
- Which entity is best for me?
- What are state fees?
- How much stock do I need?
- Where do I get stock/membership certificates?
- Do I need a federal tax ID (EIN) number?
- How do I open my company bank account?
- When do I pay franchise taxes?
- Do I need to be registered to "transact business" in my home state?
Florida is the first choice for business owners seeking privacy, asset protection, a pro-business environment, and the prestige that accompanies Florida LLCs and Florida corporations. A compelling array of benefits are available to Florida business owners such as privacy, tax savings, convenience, and flexibility.
- Shareholder information need not be disclosed to the State of Florida.
- Company ownership transfers need not be reported to the State of Florida.
- Florida does not maintain public records of ownership.
- Owners of Florida limited liability companies (LLCs) and corporations receive limited liability protection.
- Owners' assets cannot be seized as a result of the LLC or corporate liabilities.
- Because of the privacy protection offered to Florida shareholders, it is more difficult for attorneys to track business owners and owners' assets.
- Florida imposes no income tax on either LLCs or S corporations.
- Florida imposes income tax on C corporations only to the extent that income is earned in the state of Florida.
- Florida imposes no franchise tax, and minimual annual report fees.
- Florida imposes no tax on capital stock or assets.
- There are no Florida capital shares or stock transfer taxes.
- There is no state inheritance tax on stock held by non-residents of Florida.
- Florida is one of the least expensive states in which to form an LLC or corporation.
- Florida allows one individual to act as the shareholder and director and to hold all the executive offices.
- Florida LLCs and corporations can be headquartered anywhere in the world.
- Aside from a registered agent address, owners are not required to maintain a physical address within the state.
- Company records do not need to be physically located in the state of Florida.
- Stock can be transferred instantly and privately, without filing a public notice.
- You do not have to be a US citizen to form a regular Florida C corporation or LLC.
- Florida does not impose a minimum capital investment requirement for LLCs and corporations.
- Written consent is accepted to serve as a binding resolution adopted by the shareholders or directors to approve a particular action.
- Florida allows stock to be issued for nearly any consideration (capital investment, services, personal property, real estate, etc.)
- Directors and officers of Florida corporations receive generous protection (sometimes called indemnity) from personal liability.
- Florida LLCs and corporations can be formed without coming to Florida by using an online incorporator like The Florida Company.
Take advantage of The Florida Advantage by forming an LLC or corporation in Florida today!
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