Thursday, April 25, 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.

The Sunshine State is booming in business opportunities. However, before you can start, you need to understand what a corporation is. A corporation is an independent entity formed by a group of owners called shareholders. These people do not own the assets and liabilities of the company. As an entity, it is the corporation who holds all of it. In other words, it is a separate and legal 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 referred to as certificate of incorporation, it is a formal document which founded the business and getting it recognized under the law. It contains basic information about the corporation. Some details contained are the name, principal place of business, type of corporation, the purpose, the board of directors and signature of the incorporator.

Though optional, you might consider getting a certified copy of the articles and a certificate of status. Having a certified copy ensures that you have a backup in case the original got lost or damaged. The certificate recognizes the existence of the business and has paid all fees on a certain date.

The last step is optional and only necessary if you have one. This is registering your fictitious name. Note that this is separate from your legal corporate name. You are to use the fictitious one if you will want to operate and be known to be doing business separate from your legal one.




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