How to Form a Company in Florida

Introduction

Forming a company in Florida is one of the easiest states to do business in, but it’s important to follow some steps. This is especially true for entrepreneurs who aren’t familiar with how things are done in Florida. Here are some tips from LegalZoom and the Small Business Administration (SBA) on how to form a company in Florida:

Name Your Business.

Choosing the right name for your company is an important step in the formation process. The name should be unique and easy to remember, but not too long or difficult to pronounce. You should also make sure that no one else is using the same name as you.

We recommend choosing a name that has meaning to you, or at least one that will appeal to potential customers. Avoid using names that are already taken by other businesses in your area, and avoid words like “Financial” or “Investment” unless they’re part of another word (like FinanciaFund).

Choose a Registered Agent.

A registered agent is a third party that acts as an agent for your business in Florida. A registered agent’s job is to accept legal documents on behalf of your company, such as notices from the government or lawsuits against you.

A mailing address can be used for this same purpose, but it does not offer the same protection as a registered address. If you use your home address as a mailing and registered office, that means other businesses will have access to both parts of your personal information (your full name, address, etc.). If someone wants to find out more about you before they hire or do business with you then all they have to do is search Google Maps and look up where they think they might live based on their name—and there goes your privacy!

Registered agents don’t tend to open their doors during normal business hours (like attorneys’ offices), so if someone wants legal documents served on them then they need only show up during off hours when no one else is around; no mailboxes being opened by strangers here!

Choose and File Your Business Structure.

The next step is to choose the legal structure of your business. The most common options are sole proprietorship, partnership, corporation and limited liability company (LLC). Each has its own advantages and disadvantages.

• Sole Proprietorship: This is the simplest form of business structure because you don’t need to file any paperwork to start a sole proprietorship. However, this means that the entire financial risk of running your business lies with you alone; you are personally responsible for any losses or debts incurred by the business. If you have employees, they will be considered as employees of your personal assets instead of being employees of their own entity as would happen with other types of companies.
• Partnership: Two or more people can join together to form a partnership without having any special status under Florida law; however each partner has equal say in how decisions are made within the company and all partners share equal responsibility for all assets owned by either themselves or their company (in addition they could also become liable if one partner fails on his/her obligations). Partnerships may also choose whether or not they want to register formally with their Secretary Of State’s office as an LLC by filing Articles Of Organization along with paying applicable fees ($50+$150 per year depending on number issued).

Obtain an EIN or Employer Identification Number.

An Employer Identification Number (EIN) is a unique nine-digit number assigned by the Internal Revenue Service (IRS). It may be used for tax purposes or to open bank accounts. The EIN is also called a Federal Taxpayer Identification Number (FTIN) or Federal Employer Identification Number (FEIN).

The IRS issues new numbers every time a business changes ownership, so it’s best to check with them before you form your company if you’re not sure whether you’ll need one. You can call them at 1-800-829-4933.

If an EIN isn’t necessary for your business, then use your Social Security number instead.

Get Licenses and Permits for Your Business.

You will need a wide range of licenses and permits for your company. The type and amount of paperwork depends on the type of business you’re starting. For example, if you want to open a restaurant, liquor license is required.

Licenses and permits cost money and take time to acquire, so be sure that all your ducks are in a row before getting started.

Open a Business Bank Account.

To open a business bank account, you should consider opening an account at one of the following types of financial institutions:

• Local Bank
• Credit Union
• National Bank
• CDFI

Takeaway:

So, what does this mean for you? If you’re looking to form an LLC in Florida, now is the time. With a few simple steps and the right information, it’s easy to follow through on your plan to set up shop in the Sunshine State.

Conclusion

The process of forming a Florida LLC is simple and straightforward. Follow the steps outlined in this article, and you will be on your way to starting your business. Remember that if you have questions, feel free to contact us at any time!