Benefits to Incorporating in Florida

Starting a Business in Florida: Incorporation Benefits & Advantages

When you’re starting a business in Florida, it’s essential that you’re fully informed before you begin the process. For example, do you know all about the benefits to incorporating in Florida? Incorporation benefits and advantages within the state are great, and are superior to many other locales within the country.

Here, learn a little bit more about why it’s so beneficial to form an incorporation your business within the state of Florida.

In the state of Florida, there’s of course no personal income tax. That means that if you form an LLC, or your incorporate as an S corporation, the money that the business earns that is passed onto you as your personal earnings, income or wealth, is not taxable.

Elsewhere across the nation, you could be taxed anywhere from 4 to 9 percent on those earnings, a huge chunk of change you’re missing out on! That’s the first and biggest of the Florida LLC and incorporation benefits.

Additionally, there’s no minimum capital requirements to starting a business in Florida and incorporating. In some other states, there may be minimal initial investments of $1,000 or more, but Florida does not require that. In other words, you can hit the ground running without needing much, if any, startup cash on hand.

Finally, if you choose a traditional corporation as opposed to an S corporation or LLC, your first $50,000 of income is exempt from the corporate income tax. This provides you with huge advantage, particularly when you’re just starting a business in Florida and beginning to make money for the first few years.

As you can see, there are many benefits to incorporating in Florida with an S corporation entity, or an LLC. And even traditional corporations have perks as well.

Maybe that’s why, according to the Florida Department of State Division of Corporations, that 293,723 new business entity filings occurred in 2012 alone! That number is up almost 50,000 from a decade prior in 2003, when it was 248,865, although it also peaked above 300,000 in years past.

If you’re looking for a high quality, experienced Florida incorporation service, then turn to ACI. We’ve helped many business owners just like you have great success with starting a business in Florida, and we’re dedicated to meeting your needs and providing excellent customer service and support.

Call our office today at 407.889.2612 and we’ll help you begin the journey of quickly, efficiently and successfully starting a business in Florida.

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