Florida Corporation is one of the advantages that company and shareholders principals are trying to build. It should be incorporated so that they can separate their own personal shares to the business. In Florida, filing for paper works for your corporation is now lower that 25% percent. The Florida Department of Corporations will ask only $70 for the fee. It is already an advantage and you can experience more such as lower tax and easy access to foreign investors. Filing through snail mail will take you 5 to 7 business days to process. But if you file through online, it will only take 1 to 3 business days. If you decided to file online, you can read the instructions below:
- Search on Sunbiz site for your name if it’s still available or not. They have the database for all the Florida corporations built on that place. Click here, www.sunbiz.org.
- If your name is still not taken, file now your paperwork on the website where you check out the name. You can make the payment method through your credit card and make sure you create a valid email address for your corporation. All transactions now are conducted through email instead of snail mails.
- Once you get approve by the Florida State, you will receive your Federal ID. All legal information will be asked from you so make sure it is available anytime. Download your public record because it will be useful in the future.
- Be elected on S Corp so that you won’t pay double tax. Fill out the 2553 and W-9 forms where you can find on www.irs.gov. Instructions are also found on the site.
- Sales tax number is needed for the Florida State and you can fill out free online.
These are the simple steps on forming Florida Corporation for your business. Make sure to follow them step by step.