Journal
Saturday,Oct 10 2009, 09:58:50 PMFlorida Isnt Just For Tourists
When most people think of Florida they think of sunshine, palm trees & amazing winter vacations. What most people don't realize is that Florida is as well as a great place to incorporate. If you own your own business or are considering first one, you owe it to yourself to conceive the benefits of a Florida corporation.
No matter what your interests, you will find something in Florida to enjoy. Whether you like mouse ears & theme parks, the warm, sunny beaches or the exotic wildlife, Florida attractions are hard to beat. With an increasingly friendly business environment, Florida is as well as a great place to do business!
Unlike most states, Florida does not have some maximum top requirements. So if you're first out & don't have a aggregation of cash, you can still take full advantage of incorporating without having to put a aggregation of change in to your company. Some states requirement you to money your house with at small $1,000 in capital. Not so in Florida.
For starters, there is no personal income tax in the State of Florida. While regular corporations are subject to a 5.5% tax on federal taxable income over $5,000, if you incorporate your Florida business & elect S status you can have your cake & eat it ! Florida S corporations are NOT taxable entities & are therefore not required to file land income tax returns (except for the first year). The result is this: you can have the benefits of a corporation, & pay no tax! But there is more:
Another lovely thing about incorporating in Florida is that it is easy to do & you don't have to refer a aggregation of assorted people. For example, while lots of states requirement you to have over one director as well as a assorted person for each corporate officer, in Florida the Director, President, Secretary & Treasurer can all be the SAME person! This makes it easy for smaller businesses that order the benefits of a house without all the hassle.
Florida is increasingly becoming a “business friendly\" state. It already has a quantity of the lowest annual fees & corporate reporting requirements in the country. But here's some even better news: The shareholders, directors & officers of a Florida house can rest anonymous if they so select!
One of the first decisions a business someone must make after deciding to incorporate is selecting the proper land of incorporation. While there is not a one-size-fits-all answer or standard, some states are better to incorporate in than others. Florida happens to be one of the better choices.
The Secretary of State of Florida does not requirement the names or addresses of shareholders, directors or officers to be listed in the articles of incorporation. Since the State does not keep a record of who owns or controls the corporation, you can conduct business in Florida with complete PRIVACY.
However, what is right for some is not needs what is right for everybody. If you're considering incorporating your business, then you owe it to yourself to investigate all of the choices. Before making some legal or financial decision, always consult with an experienced & competent professional who knows you & your unique circumstances.
& be trusty to name Florida as one of the possible choices. Remember, Florida is not only for tourists: It is for corporations !