The requirements to start a business in Florida

Business formation means laying down a foundation and building a company from there. The following are the first and most important steps when forming a business in Florida.

Select the type of structure

First, choose the appropriate business structure, which affects the amount of taxes and liability that your company has. The types of structures are similar in Florida like in most other states. The sole proprietorship focuses on a single business owner while the corporation focuses on several owners and managers. A limited liability company, or LLC, provides greater flexibility in taxation than a corporation does.

Register the business

A major part of business formation is filling out documents and registering with local and state agencies. After registering your business, you’re able to receive numerous benefits, such as obtaining a business loan or bank account. Register with the Department of State and submit the proper documentation. You also need a registered agent to act on behalf of your business.

Apply for a permit or license

Apply for a business permit or license to operate legally. A Florida license is provided by the Department of Business and Professional Regulation and the Department of Agriculture and Consumer Services. Most people are able to apply online through the Florida Department of Revenue.

Establishing your business

The requirements to start a business in Florida are necessary to protect the owners, partners, customers and the general public. Professionals like business attorneys, advisors and accountants are available to help guide you through all of the legal and financial processes that are involved with business formation. When you get started on the right foot, you give your business a greater chance of long-term success.

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