How to start a corporation in Florida
1. Decide which corporation type is right for you
The first thing you need to do is decide which type of corporation you wish to open. Options include an S corporation, C corporation, and non-profit. Each corporation differs slightly in terms of the benefits they offer regarding taxation and liabilities.
2. Name your company
Naming your company is an important task - it should be professional yet accurately reflect your brand and service offerings. However, not all business names are available, so it’s wise to carry out a Florida corporation lookup before you set your heart on a name. While carrying out a name check search is usually a good indication of name availability, it doesn’t confirm anything so it’s wise to reserve your business name early. We can assist with our business name search and reservation services.
3. Appoint a registered agent
An official step during the corporation setup process is appointing a registered agent. It’s a legal requirement in the U.S. for every business to have a registered agent who can receive service of process and other legal documents for you at a registered address. Many businesses opt for a third-party registered agent provider, operating at a different business. Failure to appoint a registered agent can result in noncompliance, which can cause further problems.
4. Choose an incorporator
As part of the official Florida corporation registration, you’ll need to file the Articles of Incorporation which include a lot of essential business information such as business address, registered agent details, shares authorized, and more. To file these documents, you’ll need to appoint an incorporator to do so. There are many third-party providers that offer this service, including Corporate Creations.
5. Issue shares
An important component of the Articles of Incorporation is the section detailing share issuance. Florida law requires corporations to specify the number of shares they are authorized to issue. As part of this process, you can determine both the total number of shares and assign a value to each one, known as the par value.
6. File the Articles of Incorporation in Florida
Once you’ve compiled all the above information, you’re ready to file the Articles through the Florida Division of Corporations. You can file the Articles either online or by mail. Once the Articles have been filed and approved, you’ll receive a copy of the documents and a Certificate of Incorporation.
Don’t forget, once your corporation is formed, you’ll also need to obtain a Federal Employer Identification Number (FEIN). This unique identifier functions for your business much like a Social Security Number does for individuals.
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