Setting up or forming a business in Florida is very easy. Simply go on the Sunbiz website and fill in the information. But determining which corporate entity to choose is a topic to discuss first with a business lawyer. You also discuss the tax implications with your accountant or CPA.
Setting up or forming a business in Florida is very easy. Simply go on the Sunbiz website and fill in the information. But determining which corporate entity to choose is a topic to discuss first with a business lawyer. You also discuss the tax implications with your accountant or CPA.
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ABOUT THE AUTHOR
David Steinfeld is one of the few Board Certified business law experts in Florida. He has been licensed for almost 25 years. He is AV-Preeminent rated, ranked as one of the Best Lawyers in America by U.S. News and World Report, and consistently named a Florida Super Lawyer and one of Florida’s Legal Elite. Dave has also received Martindale’s prestigious Judicial Edition Award for high reviews by Judges, its Platinum Client Champion Award and has a 10.0-Superb rating on AVVO as well as a 10.0 rating on Justia, lawyer reviews websites.
Check out business lawyer David Steinfeld online for helpful videos and articles on Florida business law, real estate disputes, and electronic discovery solutions for your business. This article is provided for informational purposes only.
What is an S Corp
There is no corporate entity called an S Corp. The S Corp is a tax election as compared to a C Corp or other choices like sole proprietor and partnership. It merely denotes how you want your business treated for tax purposes.
What are the entities in Florida for my business
The recognized business entities in Florida are the corporation, the limited liability company, and the partnership. The corporation is regulated by Chapter 607 and identified by the letters Inc. The limited liability company
, is governed by Chapter 605 and identified by LLC after the business name. Partnerships are addressed in Chapter 617 and can have several identifiers depending on what kind of partnership it is.
The LLC is now the most common entity used in Florida because it is easy to manage and provides a good deal of protection for its owners.