Announcement of Fee Adjustment in October 2022
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Florida is a state located in the southeastern region of the United States. The state is bordered to the west by the Gulf of Mexico, to the northwest by Alabama, to the north by Georgia, to the east by the Atlantic Ocean, and to the south by the Straits of Florida. Florida has a total area of 65,757.70 square miles (170,312 km2), ranking 22nd largest state in the USA.
As of 2019, the gross state product (GSP) is about $1.1 trillion, the fourth largest economy in the United States. Florida is responsible for 5% of the United States' approximately $21 trillion gross domestic product (GDP).
The five largest sectors of employment in Florida are: trade, transportation, and utilities; government; professional and business services; education and health services; and leisure and hospitality. In output, the five largest sectors are: finance, insurance, real estate, rental, and leasing, followed by professional and business services; government and government enterprises; educational services, health care, and social assistance; and retail trade.
Limited Liability Company (LLC) | Corporation (C- Corp and S-Corp) | |
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Corporate Tax Rate | Florida corporate income and franchise tax rate were reduced from 5.5% to 4.458% for tax years beginning in 2019, 2020 and 2021. | |
Company Name | A corporate name must contain the words “limited liability company”, “L.L.C”, or “LLC”. The corporate name may not contain a word or phrase that indicates or implies that the corporation is organized for a purpose other than the purpose contained in its articles of incorporation. A corporate name must be distinguishable upon the record. | The term “Corporation” refers to a legal and separate entity from its owner, in addition to limited liability which means the company’s shareholders are not individually liable for the company’s debts, and the profits they receive come in the form of dividends and stock appreciation. Any individuals and/or other entities can own a corporation and the ownership process is easily transferable via the trading of stock. Corporation is categorized into either C-Corp or S-Corp which each has its own advantages for the business owners. Between these two, C-Corp is the more common corporation choice for business owners. |
Board of Directors | An LLC must have at least one manager and one member. The manager(s)/member(s) can be of any nationality. | A corporation must have at least one shareholder and one director. The shareholder(s)/director(s) can be of any nationality. |
Other requirement | Annual Report: LLCs in Florida are required to file an Annual report between Jan 1st and May 1st. Registered Agent: Florida requires a registered agent and a registered office for every Florida LLC. A registered agent is designated to receive official legal documents for your LLC, such as lawsuit papers, contracts, and other notices. Employer Identification Number (EIN): An EIN is required for corporations that have employees. Furthermore, most banks will require an EIN if the business owner wants to open a business bank account. | Annual Report: LLCs in Florida are required to file an Annual report between Jan 1st and May 1st. Officers: The Articles of Incorporation does not record names and addresses. Stock: The information about authorized shares and the number of shares or par value will be listed in the Certificate of Incorporation. Registered Agent: The Florida corporations must have a physical address in Florida to receive legal and tax documents for the business. Employer Identification Number (EIN): An EIN is required for corporations that have employees. Furthermore, most banks will require an EIN if the business owner wants to open a business bank account. |
Select basic Resident/Founder nationality information and other additional services that you want (if any).
Register or log in and fill in the company names and director/ shareholder(s) and fill in the billing address and special request (if any).
Choose your payment method (We accept payment by Credit/Debit Card, PayPal, or Wire Transfer).
You will receive soft copies of necessary documents including Certificate of Incorporation, Business Registration, Memorandum and Articles of Association, etc. Then, your new company in Florida is ready to do business. You can bring the documents in the company kit to open a corporate bank account or we can help you with our long experience of Banking support services.
From
US$ 849Limited Liability Company (LLC) | From US$ 849 | |
Corporation (C- Corp and S-Corp) | From US$ 849 |
General Information | |
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Type of Business Entity | Limited Liability Company (LLC) |
Corporate Income Tax | Yes - 4.458% |
British Based Legal System | No |
Double Tax Treaty Access | No |
Incorporation Time Frame (Approx., days) | 2 - 3 working days |
Corporate Requirements | |
---|---|
Minimum Number of Shareholders | 1 |
Minimum Number of Directors | 1 |
Corporate Directors Permitted | Yes |
Standard Authorized Capital/Shares | N/A |
Local Requirements | |
---|---|
Registered Office/ Registered Agent | Yes |
Company Secretary | Yes |
Local Meetings | No |
Local Directors / Shareholders | No |
Publicly Accessible Records | Yes |
Annual Requirements | |
---|---|
Annual Return | Yes |
Audited Accounts | Yes |
Incorporation Fees | |
---|---|
Our Service Fee (1st year) | US$ 849.00 |
Government fee & Service charged | US$ 450.00 |
Annual Renewal Fees | |
---|---|
Our Service Fee (year 2+) | US$ 799.00 |
Government fee & Service charged | US$ 450.00 |
General Information | |
---|---|
Type of Business Entity | Corporation (C-Corp or S-Corp) |
Corporate Income Tax | Yes - 4.458% |
British Based Legal System | No |
Double Tax Treaty Access | No |
Incorporation Time Frame (Approx., days) | 2 - 3 working days |
Corporate Requirements | |
---|---|
Minimum Number of Shareholders | 1 |
Minimum Number of Directors | 1 |
Corporate Directors Permitted | Yes |
Standard Authorized Capital/Shares | N/A |
Local Requirements | |
---|---|
Registered Office/ Registered Agent | Yes |
Company Secretary | Yes |
Local Meetings | No |
Local Directors / Shareholders | No |
Publicly Accessible Records | Yes |
Annual Requirements | |
---|---|
Annual Return | Yes |
Audited Accounts | Yes |
Incorporation Fees | |
---|---|
Our Service Fee (1st year) | US$ 849.00 |
Government fee & Service charged | US$ 500.00 |
Annual Renewal Fees | |
---|---|
Our Service Fee (year 2+) | US$ 799.00 |
Government fee & Service charged | US$ 500.00 |
Services and Documents Provided | Status |
---|---|
Agent Fee | |
Name Check | |
Preparation of Articles | |
Same-day Electronic Filing | |
Certificate of Formation | |
Digital Copy of Documents | |
Digital Corporate Seal | |
Lifetime Customer Support | |
One Complete Year (12 Full Months) of Florida Registered Agent Service |
Certificate of Incorporation | Status |
---|---|
Submission of all documents to the Financial Services Commission (FSC) and attending to any clarifications on the structure and applications required. | |
Submission of application to the Registrar of Companies |
To incorporate a Florida company, the client is required to pay the Government Fee, US$ 450, including:
Services and Documents Provided | Status |
---|---|
Agent Fee | |
Name Check | |
Preparation of Articles | |
Same-day Electronic Filing | |
Certificate of Formation | |
Digital Copy of Documents | |
Digital Corporate Seal | |
Lifetime Customer Support | |
One Complete Year (12 Full Months) of Florida Registered Agent Service |
Certificate of Incorporation | Status |
---|---|
Submission of all documents to the Financial Services Commission (FSC) and attending to any clarifications on the structure and applications required. | |
Submission of application to the Registrar of Companies |
To incorporate a Florida company, the client is required to pay the Government Fee, US$ 500, including:
Description | QR Code | Download |
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Business Plan Form PDF | 654.81 kB | Updated time: 06 May, 2024, 16:59 (UTC+08:00) Business Plan Form for Company Incorporation |
Description | QR Code | Download |
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Company Profile PDF | 3.31 MB | Updated time: 30 Sep, 2024, 12:45 (UTC+08:00) Discover our company profile to gain a deeper understanding of who we are |
Description | QR Code | Download |
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It is fairly easy to form a corporation in Florida. Below is the step-by-step guide on how you can register a corporation with the Florida government.
Your Florida corporation must have a unique name. You can perform a quick namecheck on the FL Division of Corporations website.
The word "Corporation," "Incorporated," or "Company," or the corresponding abbreviation "Corp.," "Inc.," or "Co." must appear in your company's name.
Every corporation in Florida is required to have a registered agent. This agent is in charge of handling legal papers and documents on behalf of the corporation. If you are looking for a certified registered agent in Florida, check out Florida company formation at One IBC Group.
In order to form a corporation in Florida, you need to file the Articles of Incorporation form with the Florida Division of Corporations. In that form you need to provide the following information:
After you successfully formed a corporation in Florida, you need to meet some legal requirements of the state, such as issuing stock, applying for licenses and permits, obtaining an EIN, or designating a Board of Directors.
Florida is considered a tax-friendly state as it does not impose individual income tax and has an overall low corporate tax rate. Here is what you should know about some types of taxes in Florida.
There are two types of corporations in Florida: C-Corporation (C-Corp) and S-Corporation (S-Corp). Out of all business structures, only C-Corp is required to pay Florida corporate income tax. The tax rate alters a little depending on when your C-Corp is registered, particularly:
S-Corps, on the other hand, are not subject to corporate income tax as they are pass-through entities. Limited liability company (LLC), Partnership, and Sole Proprietorship are also pass-through entities. This means the taxable income of the business is passed through to the individual shareholders, and each shareholder is subject to federal tax on their share of the business income.
Furthermore, all businesses are required to pay other types of business taxes aside from corporate income tax in Florida, namely: Estimated tax, Self-Employment Tax, Employment Taxes, or Excise Tax.
Limited Liability Company (LLC) and S Corporation are two most common types of business structure in Florida. Here are the tax return filing requirements for both types.
LLC in Florida is not required to file a tax return. Its income passes through to its members, who subsequently pay individual income taxes on their shares. For this reason, there are no tax return filing requirements for LLCs in Florida.
However, LLCs can be treated as other business entities such as Corporation, Partnership, or Sole proprietor for tax purposes. If the LLC files its federal income tax return as one of those entities, it needs to follow the same process of the entity it is chosen to be taxed as.
A Limited Liability Company (LLC) is among the best choices for small businesses in Florida. Below is the step-by-step guide on how to create an LLC in Florida.
Your Florida LLC must have a unique name. You can perform a quick namecheck on the FL Division of Corporations website.
The phrase “limited liability company,” or one of its abbreviations (LLC or L.L.C.) must appear in your business name.
Every LLC in Florida is required to have a registered agent. This agent is in charge of handling legal papers and documents on behalf of the company. If you are looking for a certified registered agent in Florida, check out Florida LLC formation with One IBC Group.
In order to create an LLC in Florida, you need to file the Articles of Organization form with the Florida Division of Corporations. In that form you need to provide the following information:
After you successfully create an LLC in Florida, you need to meet some legal requirements of the state, such as preparing an Operating Agreement, obtaining an EIN, or filing annual reports.
Depending on the industry you register for your business, you may be required to obtain a business license in Florida. To make sure if you need a business license or not, you can check with Florida’s Department of Business & Professional Regulation (DBPR) or Department of Agriculture and Consumer Services (DACS) for more information.
There are some requirements for your business in order to obtain a business license in Florida, such as Valid Federal or State Registration, Proof of Education, Background Check, and Tax Information. After you submit your application with the mentioned requirements, you need to pay for the filing fee. It generally costs less than US$100 for most of the business licenses in Florida.
Once you have obtained your business license, you are ready to start operating lawfully in Florida. However, some licenses for specific industries require to be renewed in a fixed period of time. In case your business license demands renewal, you should pay for it before the expiration date to avoid legal issues.
Read more: U.S. Business licence registration and Business licence requirements
Each year, your business is required to file a Florida company annual report to validate or amend your company's information on the state's records. This contains information about your company's management or membership, your company's principal office and mailing addresses, as well as information about your Florida registered agent.
The cost to file an annual report in florida depends on your business structure, particularly:
The due date for Florida company annual report is May 1st. A $400 late fee is assessed if you file after that day. Non-profit organizations, on the other hand, are exempt from paying this fee.
The fastest and most efficient way to file your Florida company annual report is via the Florida Secretary of State’s website. You need to provide:
All businesses wishing to incorporate in Florida must file a business Articles of incorporation with the Florida Department of State. The articles of incorporation is the document that certifies a business’s incorporation in Florida.
In order to submit your Florida business articles of incorporation, you are required to fill in these information beforehand:
Once you have finished your incorporation in Florida, within 10 to 15 business days, you should receive a copy of your articles of incorporation in Florida. The processing time is approximately seven days, after which you must allow time for the copy to be mailed. There is an option for expedited service, but it is only available in person.
View more detailed information on Incorporation requirements
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