How to Incorporate a Business in Florida (FL)
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.
- Hire a lawyer to do the job for you (the most expensive option)
- Walk in to the State Department office and do it by yourself
- Use a professional incorporation company, like Active Filings.
If you want to form a FL Limited Liability Company (LLC) instead, please click here
FL Articles of Incorporation Requirements
- Company Name
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.
- Company Purpose
List the reason for forming the corporation or the business/activity which the corporation will engage in.
- Authorized Shares
List the number of shares of corporate stock you are currently authorizing. Technically, this is when you “create” your stock (more can always be authorized later), and that stock will be issued to your shareholders at your first shareholder meeting.
- Registered Agent Information
In Florida, a registered agent (also known as a resident agent) is an individual or business that serves as your company’s official point of contact for lawsuits and legal notices. As part of Active Filings’ incorporation service, we include a year of registered agent service when you hire us to incorporate your business in Florida.
- Names and Addresses of the Incorporators
The incorporator is the person or company authorized to form the corporation. For example, if you hired us, we would list ourselves as the incorporator. The incorporator does not have any stake in or claim to the corporation being formed.
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.
More information about incorporating in Florida:
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