Register your company in Florida
Forming a limited liability company in Florida
The Sunshine State carries potential for small business owners seeking asset protection. A Florida LLC combines the liability protection of a corporation with the tax treatment and ease of administration of a partnership.
Forming an LLC in Florida also offers:
LLCs typically enjoy pass-through taxation where the members (owners) report their share of the LLC’s profit or loss on their individual tax returns. Any tax due is then paid at the individual level. Multi-member LLCs file an informational (partnership) tax return for the LLC, while single-member LLCs report all income or loss on Schedule C. Pass-through taxation sidesteps the double taxation incurred by C corporations when income is taxed at the corporate level and again at the individual level if corporate profits are distributed as dividends to owners (shareholders).
LLCs generally have no restrictions on the number of members allowed, and members have flexibility in structuring management of the company. Florida LLCs can also select varying types of distribution of profits. Unlike a common partnership where the split is 50-50, an LLC has room for much more flexibility.
The LLC business entity requires no corporate minutes or resolutions, making it easier to manage. Holding annual meetings of members and documenting major business decisions is still recommended, however.
Unlike Florida S corporations, Florida LLCs are allowed to have subsidiaries without restriction.
Limited Liability Company (LLC) – a business type with several advantages
A limited liability company (LLC) also has certain tax advantages. The business itself is not responsible for taxes on its profits. Instead, the LLC’s owners, known as “members,” report their share of business profit and loss on their personal tax returns, similar to tax reporting for a general partnership. This is known as “pass-through” taxation.
The LLC advantage
Partners, suppliers and lenders may look more favorably on your business when you’ve formed an LLC.
Why is Florida a great state to incorporate in?
Another great benefit is that Florida doesn’t have minimum capital requirements for incorporating your business. Some states require a minimum of $1,000 capital to start your business but Florida does not. Incorporating in Florida is much simpler than other states because the director and officers can all be the same person. For example, the Director, President, Secretary and Treasurer can be one person.
Florida is a “business friendly” state with some of the lowest annual fees and fewest corporate reporting requirements.
What is a Florida corporation and what are the benefits?
A corporation is regarded as a separate legal entity and will normally shield its owners from personal responsibility for business losses. Whereas in a partnership or sole proprietorship the owner’s personal assets can be used to pay debts of the business.
A Florida corporation has a life of its own and does not dissolve when ownership changes. In addition, although a corporation may have multiple owners, this is not required and one person may individually establish and own a corporation.
When incorporated, you can also raise capital by selling stock. Health benefits and retirement funds can be easily set up for officers and employees which are then deducted from the corporation. If you can elect S corporation status, you can avoid double taxation.
TBA specializes in Florida Incorporation and LLC services for small and home businesses in the state of Florida.
We provide the smartest, most efficient way to incorporate or form a LLC in Florida. Unlike many other incorporation services, which file to obtain your Corporate I.D. number and supply you with a litany of forms to complete, we provide an all-inclusive start-up package.
We make sure that your Florida LLC or corporation is up and running as quickly as possible, in full compliance with state and federal law. We offer expert counsel, a full set of customized corporate documents and instruction on how to follow future corporate formalities (proper legal compliance is essential in the event of an audit or law suit).
Additionally, we take care of all necessary filings with the state and federal government. Incorporating the business, filing with the proper regulatory agency, setting up banking and credit card accounts, establishing the tax treatment of your new entity, and learning how to follow corporate formalities can be overwhelming.
All of these tasks can take valuable time away from what new business owners should be doing – which is running their business. We aim to take as much of this administrative burden as possible off your shoulders. We pride ourselves on providing the most comprehensive service in the business.
TBA has several key elements that will ensure your success in company formation in Florida. Our strategies are built on sound legal advice from leading U.S. tax attorneys. We have extensive experience in Company formation and U.S. tax law.
We work directly with tax and financial professionals, never with taxpayers. And finally, we have a proven ability to take you through the process of creating a “believable image” with a Virtual Office that includes mail, phone and fax forwarding and professional business identity packages.
Our company licensing services
— What we do and do not do
Our company is EXCLUSIVELY engaged in assisting worldwide clients, either individuals or corporate entities, to get duly and properly licensed with local Regulators and Financial Authorities to get respective official licenses to legally carry out their cryptocurrency or financial related business activities.
TBA & Associates Tax Business Advisors does not provide or carry out any sort of Cryptocurrency or Financial services!
Disclaimer: While TBA & Associates strives to make the information on this website as timely and accurate as possible, the information itself is for reference purposes only. You should not substitute the information provided in this article for competent legal advice. Feel free to contact TBA Customer Services for advice on your specific cases.