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Tuesday, April 23, 2019

How To Set Up Your Business Incorporation

By Dorothy Hill


You and your friends have an idea or service that could potentially sell at the market. Your money is enough as a capital to start it up. You are assured that it could potentially make you a substantial profit. The problem is you do not know how to create your own company. Fortunately, business incorporation Florida is easy to register.

Business opportunities are booming for the Sunshine State. But, you ought to understand what you can about corporations before starting anything. A corporation is a separate entity that consists of a group of shareholders. These individuals do not own any assets and obligated to deal with the liabilities. The corporation is the only entity allowed to hold it. It is because it is considered a legal and independent person.

Provisions for guidelines are made available to novice owners by the Florida Department of State, or hereafter known as DOS. Firstly, do research. Learn everything in the guidelines which includes the Internal Revenue Service rules and regulations. It also includes the tax laws and the taxes you are required to pay. The compliance will be regulated and checked by the state Department of Revenue.

Get the time to know the process in doing business registration. You need to know what it is, where to file, and how it will go. In some cases, the local county will require the corporation to also register there to get the license. The location of your corporation should be placed where there is a rise in the economy. Booming places can also be potentially considered. It only has to be easily accessible by the employees and the possible customers.

Take note that the corporate name should comply with the DOS. It should be unique and identifiable from others. Never use Florida as part of its name. You can check with their website if the name chose is available or not.

Next, business formation immediately comes after doing research. An articles of incorporation document is what you need here. Certificate of incorporation is the other name for it. Formulate one and file it at the DOS office. After, necessary fees should be paid and accounted for.

Also known as certificate of incorporation, this formally recognizes the establishment of the corporation and getting it legally known by the law. It includes basic corporate information. The corporate name, principal place of business, corporation type, purpose, and the name, address and signature of your board and the incorporator are only some data contained herein.

Certified copy of articles of incorporation and a certificate of status is optional. However, it is best that you get one. In case the original articles of incorporation gets lost or gets damaged, you have a copy stored in the office. On the other hand, the certification recognizes that your corporation exists with all fees paid on a specific date.

Lastly, register the fictitious name of your business if you have one. The registration is optional. You have to know that this is different from the corporate name. The fictitious name is considered as a nickname. You only have to do registration on this when you are conducting operations under a different name other than your legal one.




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