incsmart.biz
FAQ: Frequently Asked Questions For Florida
Name Endings
1. Do all Florida company names need a designator?
Yes, whether it is a corporation or LLC, the name must have a designator telling the public that it is a
legal entity.
2. Can I use LTD in my company name?
Florida does allow the use of LTD for a Limited Liability Company filing.
Article Requirements
1. How many Directors and Officers do I need for my Corporation?
The minimum number is one. You can be listed as all four.
2. Can I have as many shares of stocks as I want?
The number of shares or par value does not affect initial filing fees in the state of Florida
4. What is the difference between a Manager and a Member for an LLC?
You can only list one or the other on your articles of organization. Managers are employees of the
company and members are owners. A Manager may be an owner.
5. Who is the Incorporator or Organizer?
IncSmart.biz and the filers are the Incorporators and Organizers for your new entity. It is the person
that completes and signs the articles and submits them to the Secretary of State. The Incorporator's
and Organizer's duties and title end after filing.
Taxes and Fees
1. Does Florida have annual fees and reports?
The first annual report must be delivered to the Department of State between January 1 and May 1 of
the year following the calendar year in which a domestic corporation or LLC was formed or a foreign
company was authorized to transact business. Subsequent annual reports must be delivered to the
Department of State between January 1 and May 1 of the subsequent calendar years. The late fee is
$400
2. Does a Florida company file state taxes?
There are no state taxes in Florida.
3. Is the S Corporation status recognized by the state of Florida?
For the first year in which an entity qualifies as an S Corporation, the company must file the
informational portion of Form F-1120 the Florida Corporate Income/Franchise tax return. In
subsequent years, S corporations are only required to file Florida Form F-1120 if the S Corporation
has federal taxable income.
Compliance Requirements
1. Will Florida require me to have a local bank account?
Florida does not require a local bank account to run your business from the state.
2. Does Florida require a local business address?
Florida Articles of Incorporation and Articles of Organization ask for a business address.
3. What are the Florida annual maintenance fees?
Filing Process
1. What is the process to file a new company in Florida?
The Florida Secretary of State averages around two (2) days to file new articles.
Florida Order Forms
1. Florida Corporations
2. Florida Limited Liability Companies
3. Florida Doing Business As (DBA)
4. Florida UCC Statement
5. Florida Foreign Qualification
6. Florida Mail Forwarding Service
7. Florida Bookkeeping Service
8. Florida Amendment
9. Florida Annual Report
1. Do all Florida company names need a designator?
Yes, whether it is a corporation or LLC, the name must have a designator telling the public that it is a
legal entity.
2. Can I use LTD in my company name?
Florida does allow the use of LTD for a Limited Liability Company filing.
Article Requirements
1. How many Directors and Officers do I need for my Corporation?
The minimum number is one. You can be listed as all four.
2. Can I have as many shares of stocks as I want?
The number of shares or par value does not affect initial filing fees in the state of Florida
4. What is the difference between a Manager and a Member for an LLC?
You can only list one or the other on your articles of organization. Managers are employees of the
company and members are owners. A Manager may be an owner.
5. Who is the Incorporator or Organizer?
IncSmart.biz and the filers are the Incorporators and Organizers for your new entity. It is the person
that completes and signs the articles and submits them to the Secretary of State. The Incorporator's
and Organizer's duties and title end after filing.
Taxes and Fees
1. Does Florida have annual fees and reports?
The first annual report must be delivered to the Department of State between January 1 and May 1 of
the year following the calendar year in which a domestic corporation or LLC was formed or a foreign
company was authorized to transact business. Subsequent annual reports must be delivered to the
Department of State between January 1 and May 1 of the subsequent calendar years. The late fee is
$400
2. Does a Florida company file state taxes?
There are no state taxes in Florida.
3. Is the S Corporation status recognized by the state of Florida?
For the first year in which an entity qualifies as an S Corporation, the company must file the
informational portion of Form F-1120 the Florida Corporate Income/Franchise tax return. In
subsequent years, S corporations are only required to file Florida Form F-1120 if the S Corporation
has federal taxable income.
Compliance Requirements
1. Will Florida require me to have a local bank account?
Florida does not require a local bank account to run your business from the state.
2. Does Florida require a local business address?
Florida Articles of Incorporation and Articles of Organization ask for a business address.
3. What are the Florida annual maintenance fees?
- Pay Annual Report on anniversary of Filing Date
- Pay Annual Registered Agent Fees
- Pay Federal Taxes, No State Taxes in Florida
Filing Process
1. What is the process to file a new company in Florida?
- Choose a Name for your LLC or Corporation
- File your Articles with the Florida Secretary of State
- Order your Tax ID Number
- Order your State Business License
- Receive copy of documents by email and originals by US Post
- Open a business checking account
The Florida Secretary of State averages around two (2) days to file new articles.
Florida Order Forms
1. Florida Corporations
2. Florida Limited Liability Companies
3. Florida Doing Business As (DBA)
4. Florida UCC Statement
5. Florida Foreign Qualification
6. Florida Mail Forwarding Service
7. Florida Bookkeeping Service
8. Florida Amendment
9. Florida Annual Report
| Disclaimer: Please note that IncSmart is not a law firm or an accounting firm. If you seek legal or tax advice, we recommend that you hire an attorney or a CPA. |
| FLORIDA HOME PAGE Contact Us | Careers | About Us © 2005 IncSmart Company. All rights reserved. IncSmart Home |
Florida Apostille
Certified Letter
Good Standing
| Florida FAQs info@incsmart.biz Open 24 Hours 702-940-9845 |
Qualification
