The only bookmark you need if you ever want to start a business in Florida.
Nicknamed “The Sunshine State,” Florida is the largest producer of citrus fruit in the US.
Florida is the third most populous state in the US, surpassing New York with over 19.7 million people.
Major companies include Publix, HSN, Office Depot, AutoNation, ADT, and Citrix Systems
The startup scene in Florida is growing, particularly in South Florida, where the South Florida Accelerator has offices on Broward College’s downtown Fort Lauderdale campus.
There are 3 basic options: a DBA, a Corporation or an LLC. Click here to learn more about business entities.
NOTE: Some businesses require a specific type of business entity depending on the industry you choose or the license required by your profession (may require a “Professional Corporation” or PC). In Florida, these professional corporations must abide by the Florida Professional Service Corporations and Limited Liability Companies Law (Title XXXVI, Chapter 621, Florida Statutes) and Florida Business Corporation Act (Title XXXVI, Chapter 607, Florida Statutes).
Picking a business name is easier said than done – many legal and business problems can arise from picking the wrong name (you can always change it later but the less times you have to do that, the better).
Each state has it’s own requirements for registering a business. Now that you’ve chosen a business structure and picked your business name, here are the requirements to register your business in Florida.
DBAs in Florida can be registered through the sunbiz.org portal.
Our formation package includes everything you need to get started
Your EIN is like your Social Security Number for your company. It’s required for Corporations and LLC’s and optional for DBA’s (if you don’t have any employees, then it’s required). However, if you are a DBA and don’t obtain an EIN you will be forced to use your Social Security Number on many documents so it’s typically recommended you obtain the EIN to prevent identity theft.
You can read more about corporate tax laws in Florida on the Florida Department of Revenue site.
TIP: We will obtain your EIN for you if you we form your company.
To keep business and personal expenses separate, you should open a separate account for your business. In addition, getting business credit cards is how you begin to build a company credit profile (corporation or LLC required) and can later qualify for larger loans and lines of credit. To open the account simply call your chosen bank and inquire on the steps to open a business bank account. Typically you’ll need a) your filed paperwork b) your EIN c) a company resolution authorizing your company to open the account (signed by the owners, members, officers or directors, etc.).
TIP: Our business formation service includes a free banking resolution for your use.
Now that you’ve registered your business name you need to obtain a business license for your company – this authorizes your company to do business in your city or county. Typically this also involves registering for state taxes and permits (the city may require them as part of the business licensing process).
The Florida Department of Business & Professional Regulation website has information regarding business licensing in Florida. It also has a list of types of businesses that require special licensing
Tip: We work with a company that can obtain and prepare business licenses and permits for you. Click here to learn more.
DBA: Your Fictitious Business Name should be valid for 5 years (unless you change company name or other information listed on the FBN) at which point you’ll need to renew it with the county.
LLC:Florida LLCs are required to file an annual report, due May 1 every year, which has a filing fee of $138.75
Corporation: Every year you’ll need to file the “Statement of Information” or Annual report which updates the state on your business address and other things. Florida corporations can efile. There is a $400 late fee for all for-profit corporations who do not make the May 1 deadline.
Franchise Taxes: Florida requires a franchise tax due on the last day of the month in April, June, and September, as well as on the last day of the tax year. This is calculated as a percentage of the company’s net income for that year.
Wow loved it thankyou! I dreaded making this for a month thinking it would be a hassle. It wasn't thanks to you guys!