If you are reading this, then chances are you have made up your mind on starting your own business in Florida. The idea of owning a business is what makes hundreds of people quit their full-time job and focus on their ‘own brand’. In Florida, it is even more beneficial to start your own business. The state has no income tax and low property taxes, allowing business owners to enjoy a good amount of profit without worrying about tax deductions or other inconveniences.
Hundreds of aspiring entrepreneurs fly to Florida to establish their startups or other business ventures. The process of starting a business in Florida is, luckily, not riddled with red tape or long bureaucratic procedures.
Steps for Starting a Business in Florida
Would you even consider setting up a business if you had to go through hundreds of licenses and piles of documentation? No? We thought so. Florida is a favorite spot for business because it provides an easy way to start a business. The following are simple steps that an aspiring entrepreneur must follow to successfully start their business in Florida.
1. Choose the Type of Your Business
There are three categories of business entities around the world: limited liability company (LLC), a non-profit company, and a for-profit company. Choosing the right type of business means you have to decide on the category in which your business is likely to fall under.
For your better understanding, here is the breakdown of what these different types of corporations denote:
- For-profit Company: Owned by a group of people, a for-profit company has limited liability and is subjected to corporate tax.
- LLC: Similar to the for-profit company, an LLC doesn’t have to pay corporate tax as its income is distributed to all members and reported on their tax returns.
- Non-profit Company: As the name suggests, a not-for-profit company is set up for some social cause. Charities are classified as not-for-profit companies and they are exempt from any kind of taxes.
2. Register Your Company
Since many people go for an LLC, let us focus on the registration details of an LLC. You can easily get an online form on the official SunBiz website. In order to get your LLC registered, you will have to pay an $100 filing fee and $25 fee for a registered agent. You can pay an extra $5 for an optional certificate of status.
3. Further Registration
Once the initial registration is done, you have to register the name you will carry out your business with. For example, assume your name is Mark Dunphy and you are opening a donut shop. You may want to do the business under the name Dunphy’s Donuts. This is the name of the business that you have to register. It is also called DBA – doing business as. You can register your name for $50. Try to come with unique names to avoid duplication with other business names.
The Final Word
Isn’t it easy to register a business in Florida? Well, it certainly is. If you are also looking to start a business in Florida, follow this guide to set up your business in a timely manner.
At BizCentral USA, our qualified consultants have extensive experience in document preparation for businesses. We can complete both state and federal documents for your organization and guarantee their approval.
Best of all, our rates are very competitive and we offer flexible payment methods as well as annual plans. Some key benefits of using us:
Affordable Pricing: Our services are priced to accommodate your businesses budget while still including all necessary items for your organization.
Professional Quality: We pride ourselves on the professional-grade quality work completed by our consultants, and guarantee 100% satisfaction.
Full-Service Options: We do our document preparation services in house, providing our customers with consistent professional service, quality, and quick turnaround.
Streamlined Process: We prepare your documents in a timely manner, allowing you to receive your services within 10-15 days after receiving all necessary documents.
Complementing Services: We offer a variety of services, including payroll, bookkeeping, tax preparation and more all for an affordable price!
Experienced Staff: We have gained an exceptional amount of experience in document preparation due to our low-prices, allowing you to be prepared for audits, annual reporting, fund-leveraging and financial planning. We are experts when it comes to filing for businesses.
Long-Term Relationship: Because we offer many services, our goal is to WIN our clients with great pricing and fanatical customer service to enable a long-term relationship.
If you would like assistance with your business startup, please contact us at 407-857-9002, or firstname.lastname@example.org.