How to Incorporate a Business in Florida (FL)
If you want to form a FL Limited Liability Company (LLC) instead, please click here
Florida has become one of the most desirable states in the country in which to conduct business. The State consistently leads the nation in new business incorporation. With one of the largest supplies of business parks, an advantageous business tax system, transportation availability, 14 foreign trade zones, an abundance of electrical power, and a large population of skilled human resources, Florida provides everything that a business requires to function.
Articles of Incorporation Requirements
FL Corporate Name Endings
The name must contain the word “corporation”, “company” or “incorporated” or an abbreviation. The name may not contain language stating or implying that the corporation is organized for purposes other than that permitted by Florida law or the articles of incorporation. The name must be such as will distinguish it from another corporation formed in the state.
Minimum Number – One or more
Residence Requirements – No provision.
Age Requirements – A natural person, age 18 years or older.
Directors are not required to be listed in the articles of incorporation.
The officers are not required to be listed in the articles of incorporation.
An increase in shares or par value does not cause an increase in initial filing fees.
Corporate records must be kept; however, they are not required to be stored at a specific location.
Taxes and Fees
FL Annual Statements
All businesses are required to file a Uniform Business Report. The annual filing fee is $150. Reports are due January 1 and become delinquent if not filed by May 1.
FL Franchise Tax Rate
Florida imposes a franchise tax on foreign and domestic corporations for the privilege of doing business in Florida. The tax rate is 5.5% of net income. The first $5,000 of net income for the year is exempt.
FL S Corporation
S Corporation status is recognized by the State of Florida. Further, Florida does not have a personal income tax; thus shareholders would not be taxed on corporate earnings. A separate state election from the federal election is not required.
For more information about taxes, please visit the Florida Department of Revenues at http://www.state.fl.us/dor/
Florida requires some businesses to obtain a license and pay a fee if you are operating in the state. Active Filings can research about your licensing requirements based on your activity and place of business.
Cost of Incorporating in Florida
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