Florida corporation is a large entity built by shareholders for the purpose to be exposed in many foreign investors. It should be elected to incorporate and separate any personal matters to protect the new business. The filing fee now is lower where the Florida Divisions of Corporations will only cost the shareholders $70. There are actually many advantages why corporations should be form here in Florida than any other states. Two of them are the limited liability and low tax. In case you plan to apply for the corporation, mailing the form will take the process 5-7 business days. If you do it online, it will only take 1-2 business days. Here is the process through online.
- Go to the Sunbiz Website and try to research on their database if the name you have decided is still available.
- If the name is open to use, start now with the paper work that will also be filed on the website. The filing fee is also paid their through your credit card. The corporation must have a valid email address so that the transactions can be done their and without using the snail mail service.
- When you get approved, Federal Id will be given to you. All legal information will be needed to you as you process the papers and make sure they are always available. Public record can be located on www.sunbiz.org. You can download it for future reference.
- The corporation should be elected at S Corp. to avoid twice taxation. Get 2335 and W-9 forms in www.irs.gov. Fill out those forms as they are very important.
- Sales tax number from State of Florida is needed when you sell products. Obtain and fill them out freely through online.
The process above should be done accordingly or else your application will fail. Going to LLC is also a good option for your Florida Corporation.