Advantages of forming an Corporation in Florida
The Sunshine State carries potential for small business owners seeking asset protection. A Florida Corporation could be the perfect fit for your next business. With the new tax law, corporations could save big on their taxes.
- 2 Types of Corporations
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- C-Corporation. C corps are taxed as separate entities. They are also subject to “double taxation” if corporate profits are distributed to owners (shareholders) in the form of dividends. C corporations pay tax on their profits first at the entity level and then owners pay taxes at the individual level on profits received as dividends, resulting in the double tax.
- S-Corporation. S Corporation may not have any non-resident members or partners. An S corp is a “pass-through” tax entity, like the LLC.
- Owners are Shareholders of the Corporation. The owners of both types of corporations will own a specific number of shares of the shares of the corporation.
- Board of Directors. A board of directors will manage the corporation. This includes President, Vice-President, Secretary, Treasurer, etc…
- How Long Does It Take To Form My Company:
- Once we receive your application, it will take between 4 to 5 Business Days to form your company. You will receive the following documents to get you started:
- Articles of Incorporation
- Certificate of Status
- Federal ID Number
- How Much Will It Cost?
- A new company in the state of Florida will cost $499 to Start. Please select how many companies you would like to open above and begin the checkout process.
- What Are My Obligations Each Year Once I Open My Company
- Every year, you will be required by the state of Florida to renew your company. The cost of this renewal is $250 Per Year. You will also have to file a Federal Tax Return each year following the year in which you incorporate. If you open a C-Corporation, you will also have to file a State Tax Return with Florida.
Renew Company Florida
Create Company in Delaware – $799
Personal Tax Returns for foreign nationals – Starting at $150
Corporate Tax Returns for foreign nationals – Starting at $200
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