Entity Formation in Florida
The correct selection and successful formation of business and corporate entities are vital to establishing the foundation that a business needs in order to achieve durability and profitability in their future operations. The formation process encompasses the most essential questions of your endeavor, including tax implications, contractual relationships, and financial concerns. With an extensive knowledge of business law and more than a decade of experience handling complex, highly sophisticated commercial transactions and business ventures, Owner and Founding Attorney Steven Wallace has the skills and insight needed to help you attain your business objectives.
Our legal team of business attorneys are prepared to assist individuals, entrepreneurs, and existing businesses with the formation of various business and corporate entities. By gaining a solid understanding of your goals and concerns, our attorneys can work with you to chart the advantages of your various legal options. Whether you are interested in forming a limited liability company (LLC), S corporation, C corporation, joint venture, partnership, or off-shore entities, we can vet these options and tailor plans that fit your circumstances.
Benefits of Starting a Business in Florida
Florida is a business-friendly state that offers businesses and corporations numerous benefits. Apart from streamlined procedures and document filing, Florida’s economic environment —is an excellent place to begin and succeed in business. In addition, incorporated businesses in Florida, specifically S corporations and Limited Liability Companies, do not have to pay the average corporation tax of 5.5%, as they are not taxable entities. This means that they are not required to file state income tax returns after the first year. Other notable benefits include:
- Florida does not impose a minimum capital requirement for incorporating a business
- Directors and officers can be the same person
- Low annual fees and few corporate reporting requirements